Financial news

Quotations decrease at precious metals market. Precious metals market review. 30 November, 2007

As of 30 November the situation at precious metals market was characterized by quotations decrease. Today during morning trade session in Asia the gold was traded at the level $796,00-$786,00 per ounce. At New York commodity exchange opening the gold at bid decreased by the mark $786,00. 29 November closing at New York commodity exchange was fixed at figure  $795,00.

Futures quotations for gold and silver at bid on Thursday decreased as US dollar kept strengthening and oil prices lost major part of achieved positions.

Along with this fact, futures for precious metals in general kept consolidating and futures quotations for gold, silver, platinum and palladium fluctuated in Wednesday ranges.

The main attention is paid to December futures for gold, silver and palladium, they expire on Wednesday.

In our opinion gold futures are in consolidation phase, but it is very important for them to stabilize above 800,00 dollars to prevent further correction to the field 770,00 dollars. Meanwhile, quotations for January futures for platinum increased on 1,20 dollars by 1439,50 dollars per ounce, while March futures for palladium became cheaper on 1,40 dollars, by 350,10 dollars per ounce.
London morning fixing 30 November made up $794,75 per ounce, while the rate of the National bank of Ukraine was set at the mark $807,25 per ounce.

Comments of Roman Valesyuk, Senior Vice Chairman of JSCB «PRAVEX-BANK», on precious metals market. 30 November, 2007.

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