Financial news

Gold remains one of the safest means of investments placement. Precious metals market review. 14 September 2007

As of 14 September the situation at precious metals market was characterized by the next quotations increase. Today at the morning trade session in Asia the gold was traded at the level $706-$708 per ounce and at the opening of New York commodity exchange the gold at the bid was at the level $706 and in two hours increased by $716 per ounce. 13 September at commodity exchange in New York the closing was fixed at the figure $709,40 per ounce.

The results of yesterday day gold market session showed once again a close dependence in movement of its prices from situation at the markets of currencies and energy resources. Dollar made yesterday a weak, but successful attempt to go up and oil market overcame a historical boundary in $80 per barrel. The statistics, which became known yesterday, now shows more positive picture in the USA economics: credit market stabilization which is purged from depreciated corporate bonds and increasing its liquidity; some features of improvement of the situation at work market where the number of the last applications for unemployment benefits appeared to be a little lower than it was forecasted. Few weeks are left till the beginning of heating season, historical maximum in oil price and consequent shortening of its stocks in the USA can just only increase the fear of market participants. Gold remains one of the safest means for investments placement, but its prices movement will be determined by events in other markets.

London morning fixing 14 August made up $706,75 per ounce, while the rate of the National Bank of Ukraine was set at the mark $708,10 per ounce.