Financial news

Quotations decrease at precious metals market

As of April 14, situation at precious metals market was characterized by quotations decrease. Today during morning trade session in Asia gold was traded at the level $915,40-$927,00 per ounce. While opening New York Mercantile Exchange gold at bids was at the level $927,80, then slightly increased. April 11, at New York Mercantile Exchange closure was fixed on the mark $924,90 per ounce.

Gold prices at bids in New York on Friday decreased, that most of all was stipulated by long positions liquidation, however it is expected that futures will not go out current ranges and will be grouped. Among factors that stipulated prices decrease are oil prices decrease, US dollar ability to avoid decrease to new record maximum levels, even in spite of its weakness and discretion that market participants demonstrated before meeting of ministers of finance and heads of central banks of big seven in Washington. In accordance with bids at СОМЕХ, quotations of gold futures decreased on $4,80 — to $927,00 per troy ounce. Silver futures became cheaper 35,3 cents and finished bids on the mark in $17,69 per ounce.

Tomorrow quotations fluctuation are expected at the range $920,00-930,00 per ounce.

London morning fixing on April 14, constituted $917,75 per ounce, when rate of National Bank of Ukraine was set on the mark $925,50 per ounce.

Comments of Roman Valesyuk, Senior Vice-Chairman of the Board of PRAVEX-BANK. April 14, 2008.

[You can subscribe for Banks news]