Thursday Morning Silver and Gold Update for11/17/11....Peter R.....Southern Trust Metals, Inc.

Good morning Andrew,

The cost of sovereign debt borrowing is rapidly rising in Europe......You can now add Spain and France to the growing list of European countries having to pay higher rates of interest in order to attract bond investors....Not a good omen of things to come!......Meanwhile; students clashed with police in protests across Italy against pending budget cuts, while transport strikes idled buses and trains, as the new Italian Premier Mario Monti prepares to unveil his anti-crisis strategy..... .With the integrity of the European financial system crumbling we find the Euro resuming its downtrend....Last trade $1.3459 off 80/100ths of U.S. cent....Over in the energy markets traders are on the sell side of Oil as the economic winds signal a growing likelihood for a Euro-zone recession....Last on Crude Oil $101.08 down $1.51 per barrel.....European stocks are down between 1.3%-2%.....Metals are under pressure in sympathy with today's generally weaker commodity prices.....Silver is changing hands at $33.30 off 72 cents.....Gold is down $28.00 to $1746.00....Palladium is $638.00 down $19.00.....Platinum is lower by $23.00 at $1611.00......As for the domestic stock market we find Dow futures indicating a 52 point lower open....Yeaterday the averages lost 191 points in the final hour flurry of selling....The negative sentiment might get worse as traders brace for today's economic data......This week's Initial Jobless Claims are expected to clock in at 398,000 versus last week's 390,000......Housing Starts for October are estimated to be 604,000; well below the prior reading of 658,00.....Building Permits which turn into housing starts look a bit better with a Street estimate of 603,000 versus 594,000.....The Philadelphia Fed Index of Manufacturing might put a nail into the coffin today if the data disappoints.....The Street is looking for a reading of 7.5 versus October's 8.7....The data estimates are not likely to inspire buying.....So; with all eyes on the European bond markets, that's it......
Peter R.....Southern Trust Metals
Toll free 1-877-448-0080

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