Good afternoon Andrew,
Metals ended the New York trading day higher as some bargain hunting, short covering, and today's expiration of futures and options acted in concert to push up bids across the complex.....Silver gained 30 cents to $29.60.....Gold added $19.00 to finish at $1596.00; approaching the psychological $1600 level....Palladium edged up $2.00 at $629.00....Platinum closed $8.00 higher at $1421.00.....Markets began to lose steam as the session wore on after Fitch's rating service put a number of European countries of negative credit watch.....That served to deflate the Euro from the morning highs back to $1.3013; up a mere 12/100ths of cent against the U.S. Dollar.....Early stock market gains also evaporated on a combination of the Fitch warning, and today's expiration of stock futures and index options for the current cycle.....The Dow currently sits at 11,859 off 8 points.....Crude Oil traders headed for the sidelines in advance of the week-end, using the softening Euro as an excuse.....Last on Oil $93.07 down 80 cents pr barrel....Once again; markets remain a slave to European developments.....Traders will be keeping a close eye on the week-end wires looking anything to give them directional guidance for the Monday open.....That's it....I'll be back Monday morning with the latest....Have a good week-end.....
Peter R.....Southern Trust Metals, Inc....
Toll free 1-877-448-0080
To unsubscribe simply reply to this communication letting us know of your decision.....Thanks
No comments:
Post a Comment
Keep a civil tongue.