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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer
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To: Elizabeth Andrews who wrote (927)7/31/2001 10:03:27 PM
From: Sleeper  Read Replies (1) of 976
 
of interest-

www2.marketwatch.com;

Palladium recovered from this morning's new 18-month lows, to fix at $457.00 a troy ounce, compared with $438.00 earlier in the day. Sister metal platinum likewise nudged higher to fix at $476.00 a troy ounce from $473.00 this morning.

Traders said that good physical buying in palladium around the London fixing helped this afternoon's recovery.

"There was a good bit of buying interest early on in London, which has helped palladium have a good day," said one.

"Platinum rose, but not by the same amount and only recovered on the back of palladium...the metals are living off each other at the moment," he added.

Traders said that although the dust appeared to have settled on the downward trend this afternoon, they do not expect prices to make a major leap because selling, slack physical demand and ample supplies are still weighing heavily on the market.

"The volatility at the moment will continue during the summer months and the prices of both metals will probably continue fluctuating for some time yet to come," he added.

Traders remained unclear as to how far prices could drop, but identified possible key supports at $400 for palladium and $450 for platinum.

Sleeper
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