Rus News Journal

Precious metals: gold will continue to rise in price

On Wednesday, on May, 26th, growth of cost of metals has renewed. Improvement of mood of players at world stock exchanges promoted purchases of precious metals both in the urgent market, and on spotovom. Following the results of session on May, 26th in New York official spotovye the prices of precious metals have raised and have made: gold - 1211,6 dollars/ ounce (+0,78 %), silver - 18,07 dollars/ ounce (+0,56 %), platinum - 1525 dollars/ ounce (+0,07 %), a palladium - 443 dollars/ ounce (without changes).

the Prices for gold were a little restored concerning recent minima, the analyst " marks; VTB the Capital У Aндрей Krjuchenkov. The expert considers that until fears continue to prevail over the market concerning possible defaults on debts of the European countries, gold will continue to show advancing dynamics in relation to other precious metals. The investment demand remains stably high. Last week positions on ETF - to funds and futures for gold have changed minimum, on - former keeping near to record maxima. At the same time the world`s largest ETF - fund SPDR Gold Trust has informed that as of May, 21st its physical stocks of gold have not changed in comparison with the previous value, having made 1220,152 t.

the Terminations of debt problems in an euro zone it is not visible yet, and, apparently, players will search for refuges in gold. At the same time, if the collapse in an euro zone nevertheless happens, yellow metal will direct downwards with other precious metals. Players will get rid of gold in expectation of exits of Central Banks on the open market. Thus, present rally in the market of precious metals has tactical character. At 8:30 Moscow time on Thursday trojskaja the gold ounce is estimated in 1218 dollars (+0,38 %), silver - in 18,28 dollars (- 0,12 %), a palladium - in 445 dollars (- 0,3 %), platinum - in 1548,9 dollars (+1,25 %).
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