Good morning Andrew and Happy Veterans Day,
The European stock markets are trading higher by .5-.75% as the Italian Senate voted in favor of austerity cuts giving traders a sense that Italy is moving in the right direction with regards to debt management....While the austerity measures must still need to be approved by the other arms of the Italian Parliament, it is a positive omen.....The diminishing debt crisis fears are prompting traders to add risk to their holdings leaving the metals in a mixed state of muted flux...In other words; choppy trading but little change.....Looking across the Atlantic we find Silver changing hands at $33.98 off 4 cents...Gold is quiet at $1763.00 up $2.00......Palladium is edging lower by $3.00 to $650.00.....Platinum is $6.00 higher at $1631.00 per ounce.....In currency trading the Euro continues to edge higher in tentative fashion....Last trade $1.3642 up 8/100ths of cent against the U.S. Dollar.....Over in the energy markets the price of Crude is also a shade higher in similar tentative trading.....Last trade $97.93 up 15 cents per barrel.....Turning towads the U.S stock market we find the Dow indicating a 70 point higher open, adding to yesterday's gain of 115 points....Traders are pointing to the improved European sentiment and expectations for improvement in today's University of Michigan Sentiment Index of Consumer Confidence....The latest estimate calls for a reading of 61.3 versus 60.9....Hey, its something!......Market volume is expected to be light as many institutions are closed in observance of Veterans Day....For those of you that have or continue serving our country in military service, we thank you.....That's it.....P.S. in a housekeeping note; there will be no afternoon wrap today as I will be attending the wedding of a family member at noon.....Have a Happy Veterans day and a great week-end.....I'll be back Monday morning with the latest....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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