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Alike, that correlation is with the basic currency pair of EURUSD, which was observed at the market of precious metals, lately fully lost.
In February prices on precious metals were strengthened practically identical rates and analysts mainly explained this growth strengthening of euro in relation to a dollar. Although all the same more faithful will be to say falling of dollar in relation to European currency, because dollar all it time fell in relation to all basic currency pair. That if a dollar falls, both even if the cost of assets does not change at the markets of commodities or the cost of these assets, shown in units of American currency, will grow identically. That growth of EURUSD, and together with him strengthened approximately the same rates and prices on precious metals.
But a situation in March changed considerably. The European currency exchange rate in relation to a dollar last week demonstrated the considerable strengthening and attained a historical maximum, the rates of growth of course were halted whereupon. And although a course set a new maximum this week, all the same auctions this week can be named ranges.
The courses of Gold and Silver also last week attained the levels of records on 992.80$ and 21.20$ for a triysku ounce accordingly. At because gold, as well as EURUSD bargains in a range, and quotations of prices on silver after achieving a maximum from a middle last week demonstrate a stable decline.
Prices on platinum and palladiy from the beginning of this month lost every touch with the course of EURUSD and prices on gold and silver.
After achieving the levels of records on March, 4 quotations on these metals go down constantly. The cost of palladiya already went down more than on 25% from a maximum 592.40 and now a course stands on 480.50$ for an ounce. It costs to mark, at the beginning of this week of quotation went down to the minimum for the last 4 weeks on 456.20.
A price on platinum goes down less rates, as a result of what now there is falling from a historical maximum on 15% to the level 2012.00$ for a triyskuyu ounce.
Beginning from the middle of January of this year the cost of platinum and palladiya was strengthened more than 40 percents, and practically daily during this period of price achieved a new historical maximum.
Such considerable growth was in the first turn it is caused problems with the booty of these metals from PAIR, caused problems with supplying with electric power on the enterprises of mining industry of this country.
But lately information appeared that power problems in Sonth-African Republic partly already decided, that and caused the decline of quotations on platinum and palladiy. |