Financial news

Silver became more expensive at precious metals market

As of 14 February situation at precious metals market was characterized by quotations increase. Today during morning trade session in Asia gold was traded at the level $906,80-$906,90 per ounce. While opening New-York commodity exchange gold on bids was at the level $907,90, then it decreased a little bit. 13 February closure was fixed on the mark $904,70 per ounce at commodity exchange in New-York.

Prices on precious metals on Wednesday were following: silver became more expensive, at the time when gold was traded practically without changes. Futures on gold at NYMEX decreased on 90 cents, by USD 890,30 per ounce. Dollar strengthening, technical pressure and growth of fund indexes caused funds outflow from gold market that caused its decrease. Mainly gold was traded with decrease, as traders fixed profit. In spite of relative gold stability, silver futures became more expensive, as silver kept its own trend. Silver futures increased on 10,3 cents, by USD 17,353.

London morning fixing 14 February constituted $910,85 per ounce, when rate of National Bank of Ukraine was set on mark $905,75 per ounce.

Comments by Roman VALESYUK, Senior Vice Chairman of the Board of JSCB "PRAVEX-BANK" on precious metals market. 14 February, 2008.

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