Financial news

Quotations increase at precious metals market

As of 25 December situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $805,7-$806,80 per ounce. While opening New-York commodity exchange gold on bids was at the level $813,00, then decreased a little bit. 24 December at commodity exchange in New-York closure was fixed on the figure $812,20 per ounce.

Prices on gold on Friday considerably increased under conditions of low bids volume before holidays which aggravated prices quotations. In accordance with observers' words, growth on gold prices was caused by shares, oil becoming more expensive and short positions closure. Quotations of futures on gold in accordance with bids results increased on USD 12,20, by USD 815,40 per troy ounce. Futures quotations on gold also made technical break higher than USD 812,00. Futures quotations on gold bounced from support, located about USD 800,00, and came across with short positions closure before holidays. Nevertheless, prices on gold "remain within the range", indicating support about USD 800,00 and resistance about USD 817,00.

Bids volume at silver market also was insignificant. Futures quotations on silver in accordance with bids results on Friday increased together with copper prices. Futures quotations on silver increased on 14,8 cents, by USD 14,488 per ounce.

London morning fixing on the 24 of December constituted $812,20 per ounce when rate of National Bank of Ukraine was fixed on the mark $810,25 per ounce.

Comments of Roman VALESYUK, Senior Vice-Chairman of the Board of JSCB "PRAVEX-BANK" at precious metals market.

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