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2007

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Gold market is provided with new investments inflows. Precious metals market review. 21 September 2007

As of 21 September the situation at precious metals market was characterized by quotations instability. Today during the morning trade session in Asia the gold was traded at the level $735,00-$736,00 per ounce, and at the opening of New York commodity exchange the gold at bid was at the $735,00. 20 September at New York commodity exchange the closing was fixed at the figure $731,70 per ounce.

The cost of futures for gold on Thursday raised up by record for 27 years levels against US dollar fell down background, relating leading world currencies. Oil remains also a strong instrument in gold support. Its cost measured in US dollars started also to decrease that makes the market to increase the prices. Hopes that rate decrease will result in industrial activity growth in the USA, makes investors to be in a hurry with new oil purchases for the future periods. Already now there are forecasts that the USA FRS can decide to make additional cutting of the rate at the sitting planed for October or earlier. In such terms one can say quite confidently that gold market is provided with new investments inflows.

London morning fixing 21 August made up $735,35 per ounce, while the rate of the National Bank of Ukraine was set at the mark $727,75 per ounce.

Comments of Roman Valesyuk, Senior Vice-Chairman of the Board of JSCB "PRAVEX-BANK"

News thrue september
2007

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