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2008

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Gold price is constantly growing up at precious metals market

As of 27 February, situation at precious metals market was characterized by quotations increase. Today at morning trade session in Asia gold was traded at $955,00-$960,00 point per ounce. At New York commodity exchange opening gold at bids was at $960,90 point, afterwards it decreased somewhat its position. 26 February New York commodity exchange closure was fixed at $948,70 figure per ounce.

On Tuesday, gold price increased a little due to US dollar rate fall. According to results of the regular trade session at NYMEX New York commodity exchange, gold delivery contract rose by $8,40, or by 0,9% — up to $940,50 per Troy ounce. Silver delivery contract rose by $0,635, or by 3,5% — up to $18,72 per Troy ounce. US dollar rate fall as regards other main currencies has been the key factor of gold prices rise. As a rule, gold price and dollar rate change in different directions.

London morning fixing on 27 February constituted $958,75 per ounce, while National Bank of Ukraine rate was established at $934,00 mark per ounce.

Comments on precious metals market  by Roman Valesyuk, Senior Vice-Chairman of JSCB PRAVEX-BANK Board. February 27, 2008.  

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