N e w s

The price for palladium has fallen lower than the price for gold. On the one hand it may lead to income decrease of the largest Russian palladium producing company - "Norilsk Nickel", on the other hand under these circumstances the company is likely to develop its gold sector.

The changes in the precious metals market may influence the politics of one more player - GOKHRAN.

Last week gold cost $321 per Troy ounce and palladium - $318. Thus, having been the most expensive metal in the beginning of 2001 (up to $1000 per ounce), now palladium has given up its positions. At the moment gold occupies the third position after rhodium and platinum. Russia is one of the largest palladium suppliers, its share being 60% of world market.

Some experts consider these changes to be connected with the State politics in the sector: it gives quotes for precious metal export only for a year. This is the reason for insecurity and unsteadiness, they say.

Experts express the opinion that the situation with palladium will improve: at average it will cost $380 per ounce in 2003.