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2008

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Prices for gold and silver went down as a consequence of oil price decrease on July 21

As of July 21 the situation on the precious metals market was characterized by quotations rise during the first part of the day. Today during the morning trade session in Asia the gold was sold at the price $958, 00-$967, 5 per ounce. At the opening of NY Mercantile Exchange the gold was sold at the rate of $967, 00, afterwards, the price lowered insignificantly. At the closing moment, on 18 July, the NY Mercantile Exchange rates were fixed at $955, 50 for ounce.

Prices for gold and silver went down as did the prices for oil on 21 July.

Accordingly to the COMEX trading results, subdivisions of NY Mercantile Exchange, gold futures for august grew in price with 8$ — till 970, 70 per troy ounce, and during the last hour of trading the gold lost its positions. Prices for silver also lowered as a result of gold prices lowering, and September futures closed with 7% decrease — till $18,735 per troy ounce.

On July 22, the prices for gold are expected to be in range of $958, 00-$965, 00 per troy ounce.

Notwithstanding significant prices changes, gold shall be among stable profitable and less insecure capital investment area.

On July 18, London morning fixing constituted $966, 25 for ounce, when the NBU rate was established at $961, 50 per ounce.

Comments on precious metals market by R. Valesyuk, PRAVEX-BANK Senior Vice-Chairman of Management Board. 21 July, 2008.

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News thrue july
2008

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