Financial news

Stability at precious metals market. Precious metals market review. 13 September, 2007

As of 13 September situation at precious metals market was characterized by quotations stability. Today during morning trade session in Asia gold was traded at $709,00-$708,00 per ounce, and at opening of New-York commodity exchange gold at the bids was at $707,00. 12 September at commodity exchange in New-York closure was fixed at $711,40 per ounce.

Just yesterday there appeared doubts relating to rightfulness of such sweeping increase of price on gold that can lead to suppression of such market support factor as physical demand. At this time buyers from countries of South and South-East Asia tend to precious metals markets seeking for the lowest prices for gold purchase and other metals in accordance with interests of jewelry industry of their countries preparing to the traditional for this period national festivals. At current market growth there are events caused by one of the weakest reports on labor market of the USA for last years, but it is known that to rely only on statistics data of the USA one should carefully. During the rest of the days to next Tuesday market can choose waiting policy to the final solution of all doubts in the assessment on rate.

London morning fixing 13 August constituted $708,10 per ounce, when rate of National Bank of Ukraine was fixed at the mark $711,75 per ounce.