Financial news

Quotations increase— at precious metals market. Comments of on precious metals market. 14 December 2007.

As of 14 December situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $794,00-$802,20 per ounce. While opening New-York commodity exchange gold on bids was at the level $793,00, then it increased a little bit. 13 December at commodity exchange in New-York closure was fixed on the figure $798,60 per ounce.

Futures quotations on gold and silver on Thursday sharply decreased against background US dollar growth, stipulated by publication of high indexes of retail sales and prices index of manufacturers in the USA, say traders and analysts. Prices decrease on crude oil also favored prices decrease on precious metals. Most of all this decrease was stipulated by speculative profit fixation at the end of a year. Futures quotations on gold in accordance with results of bids of commodity exchange decreased on 14,80 dollars, by 804 dollars per troy ounce.

Futures quotations on silver decreased on Thursday on 58,8 cents, by 14,237 dollars per ounce. In the beginning of the session gold prices decreased a little bit, and then it fluctuated after issue of economic data in the USA. After this, prices decrease was accelerated together with dollar strengthening. Probably, technical factors negatively influenced gold price. Investors were disappointed that prices could not keep growing.

London morning fixing on 14 December constituted $796,25 per ounce, when rate of National Bank of Ukraine was fixed at the mark $809,00 per ounce.

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

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