Russia's Polymetal sees stable gold prices in H2

Polymetal expects gold prices to stay stable in the second half of this year if macroeconomic fundametals are steady, a senior company official said, adding Russia's gold and silver miner also planned to return to the elite FTSE 100 index. "As long as we don't see any sudden macroeconomic changes, everything will most likely stay as it is," Polymetal Finance Director Maksim Nazimok told Reuters in an interview. "Gold is currently trading between $1,300 and $1,350 (per ounce), and this is the level we expect it to trade in the second half."
Polymetal International Plc expects to return to London's blue-chip FTSE 100 index after August 30, Nazimok said. "As of Monday we were 88th (in the FTSE) which would mean automatic inclusion in the FTSE 100, regardless of how other companies fare," he said. "If we keep this position until the end of the day on August 30, then we'll return to the FTSE 100. Clearly, in the remaining seven days something could happen.