Financial news

Quotations increase at precious metals market

As for 29 January situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia, gold has been traded at $927,00-$927,20 level per ounce. At the opening session of New York commodity exchange gold has been quoted at $926,70 level, afterwards its quotation index has been decreased in some extent. 28 January New York commodity exchange was closed at $926,90 index per ounce.

On Monday futures prices for gold made new record in New York due to raw oil price increase, increase at stock exchange markets, supply interruption and interest on behalf of investors related to options. At COMEX commodity exchange bids nearest futures contract price increased by $16,60, up to  $927,10 per troy ounce. Futures prices for gold and other raw materials products were followed by those for silver on the background of oil enforcement. Contract price for silver increased at COMMEX commodity exchange by 26 cents, up to $16,75 per ounce; in the course of the day maximum index was recorded — $16,795 per ounce.

London morning fixing on 29 January made up $927,50 per ounce, while National Bank of Ukraine rate was indicated at $916,50 mark per ounce.

Comments by Roman Valesyuk, Senior Vice-Chairman of the Board of PRAVEX-BANK on precious metals market. 29 January 2008.

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