Financial news

Prices on gold and other precious metals increased

According to Friday's results, prices on main metals kept decreasing. After ECB's decision to increase the rate, metals began to correct their positions. This decrease is stimulated by the US dollar strengthening; the dollar began to grow up again after having reached its lows. But despite drop in metals price, we are not still bound to consider the current correction as a new phase towards decrease. In short-term plan, we are more inclined to consider metals within the framework of a large stub. Gold trade on New York Mercantile Exchange was opened at $927.20 level, afterwards it decreased somewhat its position — up to $921.00. On July 3, New York Mercantile Exchange closure was fixed at $931.00 per ounce. Today at morning trade session in Asia, gold was traded at $919.4 — $925.8 per ounce.

Gold and other precious metals prices grew up due to crude oil increase in price, the US dollar decrease and next fall in quotations on Stock Exchange market. According to COMEX trading results, gold futures dropped in price by USD 2 — to $923.40 per Troy ounce. Silver futures quotations increased by 30 cents — to USD 18.03 per ounce.

London morning fixing on July 4 amounted to $921.00 per ounce, while the exchange rate of the National Bank of Ukraine was fixed at $930.75 per ounce.

Comments on precious metals market by Roman Valesyuk, Senior Vice-Chairman of JSCB PRAVEX-BANK Board.

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