Financial news

Growth of interest to gold as to the best alternative of safe investments placement. Precious metals market review.12 September, 2007

As of 12 September situation at precious metals market was characterized by quotation stability. Today during morning trade session in Asia gold was traded at the level $709,00-$712,00 per ounce, and while opening New-York commodity exchange gold on bids was at the level $704,00. 11 September on commodity exchange in New-York close was fixed at the figure $711,10 per ounce.

Interest to gold as to the best alternative of safe investments placement during unquiet economic period for last several days swiftly increased. In accordance with some assessments, interest to gold outruns markets of Treasury and state bonds. Gold market movement mainly backs up now on technical support factors, main of which are low rate of US dollar and growing price for oil with its inflationary constituents. In accordance with existing, report on energy resources supply in the USA can denotes again shortening of oil and gas supply. If it will be confirmed, market will come across with such shortening for the third time, and today such offers already push prices up both on oil and on gold. It is impossible to foreseen now further perspectives, but current trend of growth will be hardly interrupted soon.

London morning fixing 12 august constituted $711,75 per ounce, when NBU rate fixed at the mark $704,25 per ounce.