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2007

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Precious metals market review. 03 September 2007

As of 3 September the situation at precious metals market was characterized by absence of appreciable fluctuations. Today during morning trade session in Asia the price for gold was approximately $672 per ounce, and at the opening of New York commodity exchange the gold at bid was at the level of $671,40. 31 August at New York commodity exchange the closing was fixed at the figure $673,20 per ounce.

The growth of prices for gold during Friday bid was favored by long week-end in USA and Canada and also awaiting of interest rate decrease by USA FRS at the meeting on 18th September. At the graph one can observe the growth before data on USA issue. On this day a lot of fundamental data on USA have been issued and also B. Bernarke and G. Bush made speech. 

Bernarke did not give any term on interest rate reduction and the speech was prepared at high level for traders not to have possibility to use his speech for speculations. Today no significant gold market fluctuation is observed due to holiday in USA.

London morning fixing 03 August made up $672,75 per ounce, while the rate of National Bank of Ukraine was set at the mark $668,00 per ounce.

News thrue september
2007

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