Financial news

Decrease of gold quotations at precious metals market

As of 11 March, situation at precious metals market was characterized by quotations decrease. Today during morning trade session in Asia gold was traded at the level $972,60-$982,70 per ounce. While opening New-York commodity exchange gold on bids was traded at the level $982,90, then it slightly increased. March 10, at commodity exchange in New-York closure was fixed on the mark $973,90 per ounce.

March 10, gold futures were closed with decrease keeping descending since last week. Other metals also became cheaper. Gold with supply at bids of New-York commodity exchange lost $2,40 (0,2%) and were closed on $971,80 per troy ounce. Price on gold is decreased due to instability of the last week and lack of new information. Silver with supply in May lost 46 cents, or 2,3%, and closed at $19,79 per ounce.

March 11, London morning fixing constituted $980,50 per ounce, when rate of National Bank of Ukraine was set on the mark $973,15 per ounce.

Comments by Roman VALESYUK, Senior Vice-Chairman of the Board of PRAVEX-BANK on precious metals market. March 11, 2008.

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