Financial news

Prices on platinum reached maximum at precious metals market

As of 27 December situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $823,50-$825,00 per ounce. While opening New-York commodity exchange gold on bids was at the level $824,20, then increased a little bit. 24 December at commodity exchange in New-York closing was fixed on the figure $825,20 per ounce.

Prices at precious metals increased on Wednesday, besides prices on platinum reached record maximum under conditions of low bids volume. Prices increase was caused by oil becoming more expensive, purchase on behalf of funds, and also purchases connected with options. Besides, in accordance with analysts' words, support to precious metals market is caused by geopolitical tension.

Futures quotations on gold in accordance with bids increased on USD 13, by USD 829,50 per troy ounce. Futures quotations on silver increased following prices on gold on 17,5 cents, by USD 14,835 per ounce. Recently funds demonstrated big activity at gold market. On Wednesday they got long positions, and quotations fluctuations were strengthened by low volume after holidays.

London morning fixing on the 27 of December constituted $822,50 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 PRAVEX-BANK at precious metals market. 27 December, 2007.

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