Financial news

Gold quotations decrease at precious metals market. Precious metals market review. 29 November, 2007

As of 29 November the situation at precious metals market was characterized by quotations decrease. Today during morning trade session in Asia the gold was traded in the range $808,00-$795,00 per ounce. At the opening of New York commodity exchange the gold at bid decreased until the mark $795,00. 28 November the closing at New York commodity exchange was fixed at the figure $800,20. Liquidation of speculative long positions on gold and other precious metals on Thursday continued against background of further oil price decrease and US dollar strengthening. And futures quotations for gold tumbled below sliding average for 20 days. Large-scale income fixation at precious metals market was observed for the second session running.

December futures quotations for gold, according to bid results at COMEX (New York commodity exchange subdivision), tumbled on 13,70 dollars, by 800,30 dollars per trou ounce. February futures for gold, in turn, became cheaper on 13,90 dollars, by 807,30 dollars per ounce.

December futures quotations for silver decreased on on 15 cents, by 14,335 dollars per ounce. March futures quotations also decreased on 15 cents — by 14,533 dollars per ounce. 

London morning fixing 28 November made up $807,25 per ounce, while National Bank of Ukraine's rate was set at the mark $796,50 per ounce.

Comments of Roman VALESYUK, Senior Vice Chairman of JSCB «PRAVEX-BANK», on precious metals market. 29 November, 2007.

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