THE DAILY PROSPECTOR
Here is THE DAILY PROSPECTOR for June 2, 2000 straight from the
editorial desk of The Prospector
HOT NEWS
There will be no exports of platinum, palladium or rhodium this year
from Russia, according to a recent article from the Reuters news
agency. The article reported that the Russian news service Interfax
quoted Gokhran, the country's precious metal and gems reserve, as
saying that there would be no PGM exports this year. However, the head
of Gokhran reportedly told Reuters in March that its stocks of the
precious metals, especially palladium, were too small to influence the
market at any rate. The actual amount of what the country has as
reserves is a state secret, but Gokhran previously told Reuters that
it 'has practically no palladium left.' PGM prices, especially those
for palladium, have increased wildly in the last six months, based on
Russia's news of palladium stockpiles, or lack of them. Russia
produces nearly two-third of the global palladium, the demand for
which is on the rise due to its use in the auto industry. (Jun 1/00)
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