Financial news

Gold quotations increase again at precious metals market. Precious market review. 13 November 2007

As of 13 November the situation at precious market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $804,00-$806,00 per ounce. At the opening of New York commodity exchange gold at bid was at the level $803,10, and later it increased. On November, 12 closing at commodity exchange in New York was fixed at the figure $805,90 per ounce.

The last bid with futures for gold completed with the most noticeable interest price decrease for «yellow metal» per one trade session starting with June 2006. December futures price lost 3,2% of cost having fallen down to the mark $807,70 (-$27) per troy ounce. Some participants are concerned about the situation that if market will sink below the mark  $800,00 per troy ounce, then there will be no talk about «leaps». December contract price nevertheless managed at some moment of bid to fall down by the mark $792,80 per troy ounce.

London morning fixing on 13 November made up $803,40 per ounce, while the rate of the National bank of Ukraine was fixed at the mark $817,00 per ounce.

Comments of Roman VALESYUK, Senior Vice Chairman of the Board of JSCB «PRAVEX-BANK», on precious metals market  

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