N e w s

Last week the world prices for platinum and palladium suddenly fell down and the decrease began at the peak of rates. As far back as on Wednesday the troy ounce of Palladium in London cost more than $700 and the price for platinum have reached the maximum rates for the last 11 years.

As early as the next day on the background rumors about the soon renewal of the Russian export they have gone down and on Friday after the official confirmation of that information the price decrease took the overall tendency. As a result of this action the palladium became cheaper in average by $50-80 per troy ounce (depending on the delivery time), and the price for platinum fell down by almost 5%.

Meanwhile, the observers are not so optimistic and not in a hurry to talk about the positive tendency break formed on the market of platinoids. "It's necessary to wait till the real renewal of export",-they believe. Many experts consider today's condition of the market as extremely unstable - the speculative component in the price forming is too large.

The rate dynamics on the market of gold seemed to be even more calm than in the previous days. Prices for the available metal were fluctuating a bit around the rate of $305 per troy ounce, the rates of the futures were a little bit higher, and that, according to the gold traders, guarantees relatively stable condition of the market for the nearest several weeks.

There still was not any stability on the world market of nickel. Rate changes in some days exceeded 100 points and on Friday at the London Metal Exchange prices for nickel tightly approached to the psychologically important rating of $10 000 per ton. It was possible to hold on the edge only because of the sudden increase in the metal stocks - it somehow calmed down the "bulls".

Source: Izvestia