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Gold/Mining/Energy : Stillwater Mining , SWC (former PGMS) -- Ignore unavailable to you. Want to Upgrade?

To: PHILLIP FLOTOW who wrote (1199)	7/11/2000 10:36:57 AM
From: Sleeper	Read Replies (1) \| Respond to of 1336

Tuesday July 11 4:07 AM ET Gold, PGMs Seen Higher in 2000 By Sara Marani LONDON (Reuters) - Gold should average $288.72 a troy ounce this year, nearly four percent higher than last year, with the bullion market likely to focus on rationalization of the industry, according to a Reuters poll. The poll of 22 analysts also found that gold was expected to average $303.02 next year, nearly nine percent up on 1999's average, as central bank sales, which weighed on prices in 1999, were expected to take a back seat this year. Platinum and palladium were also expected to average higher, with platinum seen up 36.18 percent in 2000 at $512.69 an ounce and palladium seen 67.16 percent higher at $597.72. ------------------------ Platinum, Palladium Supply Deficit The key features for platinum and palladium were seen as continued physical tightness and further supply deficits. ``Supply is likely to be constrained by capacity limitations short term in South Africa while producers rush to build new mines. It's a safe bet to say that Russia will remain the dominant feature,'' said thebulliondesk.com analyst Ross Norman. Erratic supplies from Russia have led to sharp price spikes, and last week metals giant Norilsk Nickel NKEL.RTS ordered export agent Almazjuvelirexport (Almaz) to resume supply contracts with Japanese customers. Traders expected exports to resume around September. ``The PGMs have strong fundamentals but consumer inventory building and the hiatus in Russian supplies...are expected to come back and bite both of them as the situation reverts to more rational conditions,'' said Canaccord's O'Connell. With supply deficits expected to stay in place for platinum, demand was seen robust with U.S. carmakers confirming a switch toward platinum in autocatalysts -- and further out toward fuel cells. For palladium, after four years of uncertain supply and volatile prices, demand side interest was seen declining. ``With the Russians carefully adjusting supply to maintain prices around current levels the effect of industrials leaving the sector may not be immediately apparent,'' said Norman. ``However, with South African PGM production rising in pursuit of platinum, they will be liberating increased volumes of palladium for which there may be fewer willing takers.'' Sleeper