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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Philip Nolan who wrote (3820)	9/19/2001 1:17:53 PM
From: long-gone	Respond to of 8010

I'm suspecting a bit of fear, demand, negative supply, & possible supply reductions with copper so low.

To: Philip Nolan who wrote (3820)	9/19/2001 4:50:03 PM
From: Bruce Robbins	Read Replies (1) \| Respond to of 8010

Maybe this is part of the reason (my bold): Russia to debate export duties on precious metals Moscow (Platts)--18Sep2001 The Russian government was due late this week to debate whether to lift export duties on precious metals, introduced in May 1999, government sources said. Russian shipments abroad of gold and platinum group metals must pay a 5% export duty, while shipments of silver are charged 6.5%. No duty is paid, however, if the shipment is bound for states within the Russian customs union, including Belarus, Uzbekistan, Kazakhstan and the Ukraine. This has led to most metal being channeled to Belarus, which received 100% of Russian silver exports and 98.5% of gold and platinum group metals in May, according to Russia's central bank. Russia's ministry of economic development and trade had proposed the abolition of the duty to bring the country in line with World Trade Organization practice and end objections from Russia's trade partners, said tariff policy head Andrei Kushnirenko. Meanwhile, the finance ministry was said to favor the duty, for the revenue it raises and as it allowed the state precious metals stockpile Gokhran to attract gold from domestic sellers at a discount price and export the metal without having to pay any duty. Finance ministry officials were unable to show how much revenue was raised via the export duty but Kushnirenko noted that Russia was expecting a fall in revenue from duty on all metals including precious metals in 2002. Despite these problems the tariff committee required a stronger reason to abolish the tax, Kushnirenko said. "Organizational problems, such as the impossibility of stopping exports through Belarus may be taken into consideration, but they can't serve as the main reason for the abolition of export duties," he explained platts.com