Financial news

Demand on gold increased. Review of gold market. 31 August 2007

As of 31 August situation at the precious metals market was characterized by quotation increase. Today during morning trade session in Asia gold was characterized by increase in the range $667,00-$674,00 per ounce, and while opening New-York commodity exchange gold in the bids was at the level $673,20. 30 August on commodity exchange in New-York close was fixed at point $665,10 per ounce.

Yesterday main factor that influenced the work of participants of gold market was unstable situation at corporate securities market and next strengthening of US dollar positions relating to Euro. Recently gold market keeps following movement of the main stock market indexes, avoiding of accepting independent decisions. It is notable that individual buyers become more active having started preparation to so-called "jeweler season" in the countries of south-east Asia. In the USA in spite of signs emergence of economic downfall demand on physical gold is stable. This situation at the gold market will keep the same until the answer to the question about further perspectives of changes in the base interest rate USA FRS is received.

London morning fixing on 31 August constituted $668,00 per ounce,  at that time when rate of National Bank of Ukraine was fixed at the mark $666,3 per ounce.