Financial news

Quotations increase at precious metals market is going on

As of 31 January situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $922,50-$927,50 per ounce. While opening New-York commodity exchange gold on bids was at the level $926,10, then increased a little bit. 30 January closure was fixed on the mark $926,60 per ounce at commodity exchange in New-York.

On bid at raw material exchange COMEX contract price on gold decreased on $4,50, to $926,30 per ounce. Futures prices on gold decreased as traders fixed profit before decision of Federal Reserve System of the USA on interest rates. Price of March contract on silver decreased on COMEX on 4 cents, by $16,76 per ounce. Quotations of silver futures followed gold, besides bid volume on silver were considerably lower of bargains volume on gold. But after closure of bids, quotations of precious metals renewed lost positions on electronic bid. Contract on gold became cheaper on $6,50, by $931,60 per ounce; during bids there was fixed record maximum in $936,30 per ounce. Contract price on silver increased to maximum — $16,96 per ounce.

London morning fixing on the 31^st of January constituted $923,75 per ounce, rate of National Bank of Ukraine was fixed on the mark $923,75 per ounce.

Comments of Roman VALESYUK, Senior Vice-Chairman of the Board of PRAVEX-BANK on precious metals market. 31 January, 2008.

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