Good morning Andrew,
With the final trading day of the year underway we find the metals complex trading solidly higher....In late morning London trading Silver sits at $28.03 up 55 cents....Gold is $26.00 higher at $1569.00.....Palladium is changing hands at $639.00 up $5.00.....Platinum is up $12.00 at $1392.00....The reasons for the final day rally are varied....Traders point to a jump in Japanese manufacturing, yesterday's stronger than expected U.S. manufacturing and housing data, year-end book position squaring (short covering), a smaller than expected drop in Chinese manufacturing, the public announcement that hard liner Kim Jong Un is now the official supreme leader of North Korea, and saber rattling by the Iranians.......Meanwhile over in Europe traders remain nervous as the backlog of new sovereign debt bond offerings swell.....Last on the Euro $1.2933 off 18/100ths of a U.S. cent.....Over in the energy markets the price of Crude remains quiet at $99.60 off 5 cents per barrel....As for the stock markets; European indexes are up by .2% while the Dow appears to be headed for 5 point higher open in the wake of yesterday's 136 point gain....Volumes remain extremely light as most participants have already departed for the New Years holiday....That's it....I'll be back in the afternoon for the final wrap up.....Have a good morning.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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