Platinum $2,000 & Palladium $800 ?? Message Board

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Gold/Mining/Energy : Platinum $2,000 & Palladium $800 ??

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To: Aurum who wrote (25)	3/11/1998 8:56:00 AM
From: DRT	Read Replies (1) of 187

FYI. PGM article... _________ Wednesday March 11, 7:06 am Eastern Time Palladium rally dominates precious metals LONDON, March 11 (Reuters) - Palladium rose to fresh 18-year highs on Wednesday amid rising fears about delays in supplies from Russia, the main source of the metal, dealers said. Platinum, for which Russian supplies are less critical, rose steadily in palladium's wake while gold and silver traded quietly. Palladium fixed at $256.00 an ounce in the morning, up on Tuesday afternoon's $247.50 and above the previous 18-year high of $248.50 hit on January 14. Gains came overnight in Tokyo and again when London opened, with traders citing lingering worries about Russian supply as the cause of investors covering short positions. Russia supplied an estimated 3.2 million ounces of palladium in 1997, compared with South Africa's 1.75 million ounces and total supplies of 5.65 million, according to leading refiner Johnson Matthey. The metal is used extensively in car catalyst technologies to remove noxious exhaust gases, as well as in high-grade electronics and dentistry. Platinum was last at $391.00/$393.00 versus its New York close of $388.30/$390.00 while palladium was at $255.00/$257.00 as against $249.75/$251.75. ________ DRT

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