Wednesday Morning Silver and Gold Update for 11/23/11.....Peter R....Southern Trust Metals, Inc.

Good morning Andrew,

European sentiment has taken another turn for the worse in the wake of  this morning's failed German government bond auction ......Investors are now demanding higher risk compensation from the lone pillar of strength in Eurozone....With yields now rising even in Germany; the situation looks dire....The Euro currency is down 1.26 cents against the U.S. Dollar in a sign of the growing anxiety....Last trade $1.3390.....Wow!.....In the energy market we find Crude Oil down $1.72 per barrel at $96.29.....Fears of a Eurozone recession is the catalyst....Meanwhile the precious metals complex has turned lower in the wake of a surge in the Greenback.....Gold is $12.00 lower at $1690.00.....Silver sits at $31.53 off $1.32 ......Palladium is down $12.00 and changing hands at $593.00 per ounce.....Platinum is down $14.00 at $1559.00.....As for the stock markets; Asia fell by an average of 1%.....Europe is down by about .5%.....The Dow looks lower by 85 points in what looks to be a lightly participated trading day in advance of Thanksgiving.....For the traders and investors remaining; they face a final flurry of U.S. economic data ......The Weekly Initial Jobless Claims are expected to be 391,000; up slightly from last week's 388,000.....Personal Income is estimated to be up .3% versus .1%.......Personal Spending looks be up .3% as opposed to up .6%.....PCE inflation is expected to show a rise of .1% versus 0%.....Durable Goods for October are projected to show a decline of .9% versus August's decline of .6%.....Last but not least; The final November reading the University of Michigan Sentiment Index of Consumer Confidence is estimated to be 64.2; unchanged from the initial reading...The data kicks off beginning 8:30 AM Eastern.......What does it all mean? .....The data is mixed at best with leaning towards slower economic activity.......Nothing to spur buying......Regardless; the trading direction will continue to be driven by Eurozone anxiety.....In a final note; all U.S. markets will be closed tomorrow in observance of Thankgiving.....Markets will resume on Friday with a shortened trading day.....That's it.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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