GOLD AND SILVER WILL GROW
The cost of precious metals trades on Monday, October 1, in New York City has changed in different directions. Official spot rates were: Gold - 1776.2 dollars. / Ounce (0.23%), silver - 34.75 dollars. / Ounce (0.46%), platinum - in 1685 dollars. / Ounce (+0 , 96%), palladium - 649 dollars. / oz (+0.94%).
At the end of last week, gold fell by 0.26%, its average value amounted to 1,767.8 dollars. / Ounce, the head of asset management Absolut Bank Ivan Fomenko. Silver retains a similar trend. Perhaps the influx of investors in this asset also continued but should be aware of excessive volatility due to poor market liquidity. For the week, silver contracts fell by 0.18%.
Quotes of platinum and palladium have once again shown a volatile trend in the correction of the financial markets. The demand for these metals shows a high degree of dependence on changes in attitude about the prospects of the economy and the industry is subject to specific risks due to poor diversification manufacturers. In the medium term, growth in demand for gold and have a positive impact on platinoids.
Despite the decline in the stock and commodity markets, gold prices have returned after a minor correction to the level of the local maximum. Such dynamics confirms that the program is QE3, the Fed launched the United States, will have an unambiguous positive impact on gold prices as the best anti-inflationary asset. Also, the prices are kept high continuation of strikes of miners mines in South Africa, demanding higher wages.
Recall that the country is facing its most severe crisis since 1994., And gold mining there is almost suspended.
I.Fomenko expects gold and silver this week may continue to increase, which will contribute to speculation around the speech by U.S. Federal Reserve Chairman Ben Bernanke on the adoption of new stimulus measures if the economic growth rate will not meet the expectations of the monetary authorities. At the same time, the uncertainty in the euro zone may contain the growth of quotations of precious metals.
At 8:00 MSK on Tuesday, Oct. 2, gold futures stood at 1,780.3 dollars. / Ounce (-0.17%), silver - 34.85 dollars. / Ounce (-0.28%), platinum - 1677.7 dollars. / ounce (-0.48%), palladium - 644.5 USD. / ounce (-0.17%).
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