Financial news

Quotation increase at the precious metals market. Review of precious metals market. 11 September, 2007

As of 11 September the situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia the gold was characterized by increase in the range $702,00-$705,00 per ounce and at the opening of New York commodity exchange the gold at bids was at the level $704,00. 7 September close was fixed at the mark $702,20 per ounce at New York commodity exchange.

Gold market grew again by the end of the session. Now market approached maximum of the last 4 months and it makes its behavior safer. The main factors of its support are US dollar rate weakening and still uncertain fate of the base interest rate in the USA. At the planned sitting of FOMC 18 September an active interest rate will be contracted as it is supposed. Situation in American economy causes a lot of concerns and all the attempts of FRS to calm down the market didn't bring results. Anyway it is not worth to doubt that investors interests to gold market will be high during coming days.

London morning fixing 11 August constituted $704,25 per ounce, when the rate of NBU was fixed at the mark $704,00 per ounce.