The situation in the urgent market of precious metals is characterized by essential increase of the gold prices. So, at the Commodity exchange of New York (COMEX) the gold prices for the first time for nine months have exceeded a mark US 680 per ounce.
The ounce of gold at COMEX has raised US 23, 0 dollars (+3, 5 %) in price for a day.
The rise in gold prices on has been caused by active purchases of future contracts by large investment funds. Purchases of gold have been caused by the high prices for oil which have reached a record level from the beginning of 2007.
Purchases of gold were also promoted by the strengthened influence of the geopolitical factor. The market expects strain of relations between Iran and the USA on a nuclear problem. From the beginning of the year, the USA has expanded the military presence in the Persian Gulf region.
Purchases of gold are also promoted by fears for inflationary processes in US economy. In January 2007 consumer prices in the USA have grown on 0,2 % in comparison with the last month, and in comparison with January, 2006 the rise in prices has made 2,1 %, that is above the forecast.
The prospective range of gold prices can make: the nearest prospect will be US 659, 0-686, 5 /ounce; intermediate term prospect will be US 646, 5-690, 0 per ounce.