Rus News Journal

The gold price on COMEX has fallen to a minimum for eight weeks

the gold Price at commodity exchange of New York (COMEX) on March, 18th has fallen to the lowest level for last eight weeks and was established following the results of the auctions below a mark 890 dollars/ ounce after during the auctions of its quotation have exceeded value 950 dollars/ ounce.

Trojsky ounce of gold on COMEX on March, 18th 2009. The Official price of gold on COMEX with reference to its active future has fallen in price (April) for a day on 27,7 dollars has gone down for a day on 3 % and the ounce was established on a mark 889,1 dollars/ - since January, 22nd of this year At the same time the prices under transactions have made the lowest indicator 882,7 - 954,0 dollars/ ounce.

950 dollars/ ounce of the quotation of gold have exceeded a mark for the first time for two and a half a week, and the maximum growth of quotations during the auctions has made on March, 18th 37,2 dollars/ ounce, or 4,1 %. Active purchases of gold ingots have been caused by decision FRS the USA about preservation of operating base discount rate at level of 0,25 % annual that has caused essential weakening of positions of dollar in the market of world currencies, having provided thus attractive conditions for investment purchases of gold. So, Dollar Index (spot), reflecting course changes of the American dollar rather baskets six leading world currencies, on March, 18th has gone down on 2,7 % and has fallen to the lowest level for eight weeks - 84,595 points.

however the official price of gold on COMEX following the results of trading day on March, 18th was established considerably below the maximum quotation. In this case followed sharp growth of quotations of sale of gold ingots the USA on maintenance of economic sector of the country have been caused by plans FRS. So, forthcoming six months FRS plans to carry out the repayment of long-term promissory notes of the Treasury Department of the US for the sum 300 mlrd dollars, and also mortazhnyh promissory notes for the sum 750 mlrd dollars Thus also in addition promoted on March, 18th gold sales such factors, as reduction of prices on oil and preservation of a stable situation in the share market.

from the beginning of current week the gold price on COMEX has gone down for three days on 41 dollars/ ounce, or on 4,4 %. In the meantime the commodity volume of investments into the gold, carried out through securities of the world`s largest specialised investment fund SPDR Gold Trust, as of March, 18th, has increased on 15,28 t and has reached new record value - 1084,33 t. We will remind that since March, 12th of this year stocks of gold SPDR Gold Trust exceed stocks of gold of the Central Bank of Switzerland - the sixth world`s largest holder of gold which officially make more than 1040 t.

At the same time from - for reductions of prices the volume of investments SPDR Gold Trust in money terms as of March, 18th has a little decreased for gold and has made 31,135 mlrd dollars against 31,461 mlrd dollars for March, 17th. We will remind that a historical record for this indicator is value 32,713 mlrd the dollars, registered as of February, 20th of this year, in day when the gold price on COMEX for the first time for 11 months has exceeded a mark 1000 dollars/ ounce.


the silver price on COMEX has fallen on March, 18th to 5,8 % and for the first time for last seven weeks the ounce was established below a mark 12 dollars/. The Trojsky ounce of silver on COMEX has fallen in price for a day for 73,5 cents, and the official price of silver with reference to its active future (May) the ounce has made 11,935 dollars/ - the lowest indicator since January, 22nd of this year Thus the prices under transactions with silver were established in a range 11,890 - 13,00 dollars/ ounce.

From the beginning of current week the silver price on COMEX has fallen for three days to 1,23 dollars/ ounce, or on 9,3 % that has technically been caused by essential reduction of prices on gold, from - for what demand and for other precious metals has decreased.

for last three trading days the gold price has decreased on 4,4 %, however the silver price has fallen in percentage expression more essentially as the situation in the copper market continues to render additional pressure upon silver. So, on COMEX the copper price has gone down over the last two days approximately on 1,5 % that technically in addition promoted easing of demand for silver. br>
platinum on Nju - jorkskoj to commodity exchange (NYMEX) has a little fallen in price on March, 18th, and its official price at a stock exchange has fallen to the lowest value more than for two weeks.

so, trojskaja the platinum ounce has fallen in price on March, 18th for a day on 9,4 dollars The official price of platinum with reference to the active future has gone down (April) on 0,9 % and the ounce - the lowest indicator since March, 3rd has made 1042,4 dollars/, and the prices under transactions were established in a range 1037,0 - 1064,7 dollars/ ounce.

reduction of prices on platinum has been technically caused by a situation in the gold market which price has fallen on March, 18th for a day to 3 % and was established at the lowest level for eight weeks.

the palladium price on NYMEX on March, 18th for the first time more than for two weeks has fallen below a mark 195 dollars/ ounce. The Trojsky ounce of a palladium on NYMEX has fallen in price for a day on 3,20 dollars Thus the official price of a palladium with reference to its active future (June) has gone down on 1,6 % and the ounce - the lowest indicator since March, 3rd of this year has made 194,65 dollars/, and the prices under transactions were established in a range 194,10 - 201,30 dollars/ ounce.

Reduction of prices on a palladium has been caused on March, 18th by its sales under the influence of the general easing of demand for precious metals. We will remind that for last two sessions the palladium price has decreased on 5,60 dollars/ ounce, or on 2,8 %, and two days 200 dollars/ ounce remain below a mark. Palladium sales have begun, after its official price as of March, 16th has reached the maximum value for five sessions - 200,25 dollars/ ounce.