Financial news

Gold quotations increased at the precious metals market

As of July 22, situation at precious metals market was characterized by quotations increase during the first half of the day. Today at morning trade session in Asia, gold was traded at $974,5-$965,5 per ounce. Gold trade on New York Mercantile Exchange was opened at $973,00, afterwards it decreased somewhat its position. On July 21, New York Mercantile Exchange closure was fixed at $965,50 per ounce. 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.  

 Gold prices increased at London bids on Tuesday, which is the second day of increase along because of the decrease of the US dollar, which is traded at an outstandingly low level comparing to euro. 

According to the message, gold prices of immediate delivery has increased by $7 (0,7%) — to $927,55 per troy ounce. August gold futures, according to COMEX in New York, grew by $8,7 (0,9%) — to $972,4 per ounce, silver became more expensive by 1% — to $18,595 per ounce.

Gold prices are expected within the range of $960,00-$970,00 per troy ounce for July 23. Despite substantial prices decrease, gold will be quite a profitable investment for a short term and the least risky long-term investment.

London morning fixing on July 21, amounted to $973,00 per ounce, while the exchange rate of the National Bank of Ukraine was fixed at $966,25 per ounce.

Comments on precious metals market by Roman Valesyuk, Senior Vice-Chairman of JSCB PRAVEX-BANK Board. July 22, 2008.

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