Financial news

Monday raise of gold and silver prices

As of July 15, situation at precious metals market was characterized by quotations increase before afternoon. During today's morning trade session in Asia gold has been traded at the level of $970,70 – $985,10 per ounce. Gold trade at New York Mercantile Exchange was opened at $986,20, decreasing somewhat its position afterwards. On July 14 th , New York Mercantile Exchange closure was fixed at $970,7 per ounce.

Gold and silver prices experienced a substantial raise due to economy development worsening in Europe and USA . Gold is the only real asset that will not lose value in the nearest future.

According to COMEX trading results, August gold futures increased by $13,10 up to $973,70 per Troy ounce. Silver futures experienced price raise together with gold against the weak US dollar positions.

September silver futures quotations at trade closure increased by $0,43 up to $19,25 per ounce.

On July 16 th gold price is expected within the limits of $975,00-985,00 per Troy ounce. This price increase is caused by the US GDP slower growth and weak US dollar positions.

London morning fixing on July 15 th amounted to $981,75 per ounce, while the exchange rate of the National Bank of Ukraine was fixed at $957,75 per ounce.

Comments on precious metals market by Roman Valesyuk, Senior Vice-Chairman of the Board of JSCB PRAVEX-BANK.July 2, 2008.

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