Updated Wed Nov 17 07:02 ET
BRIDGE UPDATE--PRECIOUS METALS: US agree to revalue IMF gold for debt
Nov 17--1201 GMT/0701 ET
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TOP STORIES:
Johnson Matthey sees platinum mkt in deficit, in $370-440 range
London--Nov 16--Demand for platinum is expected to reach a new high of 5.59
million ounces in 1999, up from 5.39 million in 1998, according to Johnson
Matthey's Interim Review. Supply is expected to fall by 340,000 ounces to 5.06
million ounces, implying a 530,000-ounce market deficit. The UK precious metals
group is expecting platinum to trade within a US $370-440 per ounce range for
the next 6 months. (Story .14079)
Johnson Matthey sees palladium averaging $350-400 next 6 months
London--Nov 16--Palladium is forecast to average US $350-400 per ounce for
the next 6 months, due mainly to an expected 630,000-ounce implied deficit,
according to Johnson Matthey's Interim Review. Demand is expected to rise by
2.5% to 8.3 million ounces in 1999, whilst supplies are expected to fall by
730,000 ounces to 7.67 million, the UK-based precious metals group said. (Story
.14126) |
