Saturday, December 9, 2006

Gold on NYMEX

Price on gold has fallen below a mark $650 for troy ounce for the first time for the past four days on a background of growth of a dollar exchange rate against basic currencies on Wednesday. The dollar managed to win back a few losses against euro after the Institute of management of supply (ISM) has informed that in November growth of services sector in the USA was accelerated. The business index of services sector has grown from 57.1% in October up to 58.9% in November. Economists predicted reduction of index to 55.8%. Value of index ISM above 50 items testifies to expansion of activity in tertiary industry.

On results of the trade on the New York commodity exchange, NYMEX, on Tuesday February futures for gold have fallen in price on $3.00, or on 0.5%, up to $647.90 for ounce. Analysts predict that within the next few days there can be a further growth of a dollar exchange rate and decrease in investment appeal of gold.

The prices for other metals were closed differently on Tuesday. The March contract on delivery of silver has fallen on $0.22, or to 1.5 %, up to $14.025 for ounce. The March contract on delivery of copper was lifted on $0.071, or on 2.2 %, up to $3.247 for pound.

January futures for delivery of platinum on Tuesday have fallen on $23.60, or to 2.2 %, up to $1133.70 for ounce. The March contract on delivery of a palladium has decreased on $0.05 up to $336.45 for ounce.

On Monday, December 4th, gold reserves have remained on a mark 7.49 million troy ounces. Silver reserves have grown on 601100 troy ounces up to 108.4 million troy ounces. Cooper reserves have increased for 600 short tons up to 31899 short tons.

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