Financial news

Gold quotations keep ascending at precious metals market. Precious metals market review. 15 November, 2007

As of 15 November situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $802,00-$816,00 per ounce. While opening of New-York commodity exchange, gold on bid was at the level $802,00, then decreased a little bit. On 14 November closure was fixed on the figure $812,40 per ounce on commodity exchange in New-York.

After three sessions which were marked by futures prices lowering on gold. Yesterday gold market participants performed strong rally, and price of December future on gold increased by $814,7, that is $15,7 higher of previous day results. It is necessary to note opinions of some gold market participants in advance, which consider gold market to be overpurchased and available to deeper correction performance. Such apprehensions can be considered reasonable, as gold market rally is performed, in fact, very lonely on the background of unceasing doubts of participants by real conditions of American economy.

London morning fixing on the 15 of November constituted $806,00 per ounce, when rate of National Bank of Ukraine was fixed on the mark $808,25 per ounce.

Comments of Roman VALESYUK, Senior Vice-Chairman of the Board of JSCB "PRAVEX-BANK" on precious metals market. 15 November, 2007.

[You can subscribe for Bank's news.]