‘UkrGasBank’ in mass media: “Investors’ anxiety may cause increase in price for gold” / LIGABusinessInform

During the first quarter of the current year ‘UkrGasBank’ attained a psychologically important level of USD 600 for 1 oz. The achievement looks rather real. Oleg Matling, Head of Precious Metals Department of OJSB ‘UkrGasBank’, expressed this opinion for LIGABusinessInform.

During the first quarter of the current year ‘UkrGasBank’ attained a psychologically important level of USD 600 for 1 oz. The achievement looks rather real. Oleg Matling, Head of Precious Metals Department of OJSB ‘UkrGasBank’, expressed this opinion for LIGABusinessInform. According to Mr.Matling, at the end of 2005 1 oz. cost USD 513 but during the last 5 weeks of 2006 price for gold rose 10% more. On February 2, 2006 for the first time during last 25 years London fixing of gold reached USD 572, 15 for 1 oz.
“Dynamics of oil price increase and geological tensity around Iranian nuclear program intensify inflationary expectations among investors. Thus, demand for gold push the price to new maximums,” – noted the expert.

Yesterday 25-year peak of European prices for gold was resumed over exploitation of Iran situation and oil prices increase made investor to seek refuge on more safety Precious Metals Market.

07.02.2006