Exchange market news, gold. Results of the trading session on December 5th have shown that in New York the official spot price of precious metals has dropped. Consequently, the cost of gold has amounted to 1724.2 dollars/ounce (-1.27%), silver – 32.18 dollars/ounce (-1.72%), platinum – 1526 dollars/ounce (-1.75%), and palladium – 637 dollars/ounce (-1.56%).
UBS specialist Dominique Schneider has given the following comments to Bloomberg Agency concerning the situation at the market of precious metals: “Next 12 months can rise the value of gold to over 2000 dollars/ounce. Considerable weakening of European monetary policy will become the key factor of growth. Thus, the Head of ECB Mario Draghi has already claimed that ECB ought to be entitled to buy more bonds. Loss of positions in ECB policy and the growing demand for gold from numerous moderators will only encourage further growth. At present gold is considered to be overestimated. However, gold would be overestimated if real rates rose, and this is not going to happen during at least next two years”.
This morning at 8:00 a.m. Moscow time gold future has reached 1718.19 dollars/ounce (-0.94%), silver future – 32.06 dollars/ounce (-0.95%), platinum – 1514.63 dollars/ounce (-1.16%), and palladium – 631 dollars/ounce (-2.4%).
As explained by analytics of the DFWA Department of , major attention is currently paid to the future results of EU summit. This will form the market trend during the current week. Therefore, positive decisions at EU summit will particularly influence the price of gold. Technically, the market is having a rather characteristic condition, namely, green marks the zone of buying, whereas red marks the zone of selling:
