08.09.2008, 12:23 2488

World market price for gold decreased

World market price for gold has decreased.

Almaty. September 8. Kazakhstan Today - World market price for gold has decreased.

The main factor of decrease of prices for gold was the American dollar that considerably has strengthened its positions in relation to other currencies. Growth of American currency has predetermined falling of all exchange goods as they acted as one of the main means of hedging against currency risks. The reverse interrelation between growth of dollar to euro and quotations of gold has amplified.

The largest gold mining companies of the world have not changed forecasts of volume of manufacture of gold in 2008, but expectations of expenses for manufacture have been reconsidered towards increase.

World demand for gold in II quarter of 2008 was decreased down to 19 % due to high price for this precious metal and stable demand by the jewelry companies, Bloomberg agency informed referring to World Gold Council.

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