Good morning Andrew,
Global markets are trading sharply lower as worries about Italy mount....Mr. Berlusconi is resigning after a humiliating loss in the Italian Parliament sending the borrowing costs for 10 year Italian debt over the 7% threshold; completely unsustainable....Wow!....Since the European Union is having a most difficult time just dealing with a Greek bailout, the potential for an additional Italian bail out seems out of financial reach....Eurozone stocks are down about 2.5% with the U.S. market indicating a 200 point lower opening in the Dow....Once again; margin calls are pressuring traders and investors to liquidate anything and everthing in order to meet the stock related calls....As for the Euro; it's floundering at $1.3631 down 1.57 cents against the U.S. Dollar.....Crude Oil traders are finally waking up the implications of Europe's financial problems with Oil losing $1.18 to $95.62 per barrel.....Metals are also under selling pressure....Silver is 66 cents lower at $34.54....Gold is down by $14.00 to $1784.00 per ounce.....Palladium sits at $663.00 off $13.00....Platinum is changing hands at $1648.00 down $25.00....So, with Greece and Italy struggling to establish new governments, markets will continue to be volatile with traders under the influence of minute to minute news from Europe....Fasten your seat belts.....That's it....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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