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2008

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Gold and silver prices have decreased after the oil price decrease

As of July 18, situation at precious metals market was characterized by quotations decrease during the first half of the day. Today at morning trade session in Asia, gold was traded at $958,00-$957,5 per ounce. Gold trade on New York Mercantile Exchange was opened at $958,00 level, afterwards it decreased somewhat its position. On July 17, New York Mercantile Exchange closure was fixed at $956,50 per ounce.

Gold and silver prices decreased on July 18 after the oil prices decrease.

Gold futures quotations according to COMEX bids results, New York Mercantile Exchange Department, grew by 8,00 dollars — to 970,70 USD per Troy ounce, and during the last trading hour gold has decreased somewhat. Silver futures dropped in price as the gold did and September futures quotations were closed at a decrease by 7 cents — to 18,735 USD per Troy ounce.

As for July 21, gold prices are expected within the range of $955,00-$975,00 per Troy ounce. Such substantial range of the gold prices movement is a result of unstable price for European and American currency.

London morning fixing on July 18 amounted to 961,50 per ounce, while the exchange rate of the National Bank of Ukraine was fixed at $964,00 per ounce.

Comments on precious metals market by Roman Valesyuk, Senior Vice-Chairman of JSCB PRAVEX-BANK Board. July 18, 2008.

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News thrue july
2008

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