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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (25093)	12/30/1998 5:40:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 116790

Today nearby future Gold up a $1 Silver unchanged

To: Don Green who wrote (25093)	12/30/1998 6:16:00 PM
From: goldsnow	Respond to of 116790

Platinum Futures Rallying Wednesday, 30 December 1998 (AP) PLATINUM FUTURES prices rose to a three-month high in relatively quiet trading Wednesday on the New York Mercantile Exchange. The rise in platinum prices was attributed to the seven-day strike at South Africa's Anglo American Platinum Corp., with a cutback in palladium production by Russia contributing to the rise. In other markets, hog futures prices rose and grain and soybean futures prices fell. The strike at Amplats stems from a dispute over wage increases and has affected all five of the company's mines. Talks between mine officials and the National Union of Mineworkers and a mediator are expected to take place Monday. Platinum and palladium have industrial uses, including being a major component in the making of automobile catalytic converters. It is also a popular component of jewelry sold in Asia. South Africa is the world's largest producer of platinum, followed by Russia, which has cut back palladium production. Also giving a boost to platinum was a continuation from Tuesday of fund buying as major investors in the market fine tune their books, according to analysts. Platinum for January delivery settled $3.90 higher at $361.40 a troy ounce; march palladium was $2.30 higher at $327.95 a troy ounce. Hog futures prices were higher and cattle futures prices fell in trading on the Chicago Mercantile Exchange. Although hog prices closed 2.9 percent higher, they were off the highs of the day because of profit-taking. Hog futures received a boost from Tuesday's U.S. Agriculture Department hogs and pigs report, which indicated pork producers are reducing the sizes of herds. Cattle futures were mostly lower in technical trading. December live cattle were .72 cent higher at 61.82 cents a pound; January feeder cattle were .10 cent lower at 69 cents a pound; February lean hogs were .95 cent higher at 33.25 cents a pound; February pork bellies were .90 cent lower at 43.27 cents a pound. Grain and soybean futures prices fell in quiet trading on the Chicago Board of Trade. Corn futures prices fell to a three-month low on the possibility of cuts in feed use by pork producers. The USDA's hogs and pigs report pointed to declining domestic demand for pork. Fair weather in South America, where the Argentine corn crop is developing well, also added to the market's decline. Wheat futures prices were pushed lower by technical selling and a lack of new export sales. Also hurting wheat prices were weather forecasts calling for snow for parts of the winter wheat crop area. The snow is expected to offer protection from falling temperatures in the area. Soybean futures fell, a reaction to Argentina's Rosario exchange's estimate Tuesday that the nation's soybean crop will total 18.5 million metric tons, more than the 17 million metric tons forecast by the USDA. Continued mostly favorable weather in Argentina and Brazil also weighed on the market. Wheat for March delivery settled 5 3/4 cents lower at $2.76 a bushel; March corn was 5 1/4 cents lower at $2.13 1/2 a bushel; March oats were 3 cents lower at $1.05 1/4 a bushel; January soybeans were 5 1/2 cents lower at $5.38 1/4 a bushel.