Good morning Andrew,
Metals are trading a shade higher this morning reflecting a slightly weaker dollar.....Traders are worrying about the release of this morning's third quarter Gross domestic Product (GDP)....The estimate calls for an actual rise of 3.2% compared with last quarter's decline of .7%....If correct it would confirm the end of the recession....Street traders appear to be dubious of the number....Currency traders are putting the Dollar under a bit of selling pressure with the Euro currently trading at $1.4731 up 14/100ths of U.S cent....Crude traders are taking a different tack pushing up the price of Oil in anticipation of good economic numbers.....Last on Crude $77.91 up 41 cents per barrel....As a result we find Silver up 14 cents at $16.33......Gold is $5.00 higher at $1034.00......Palladium is $322.00 up $2.00 per ounce.....Platinum is up $11.00 and changing hands at $1320.00......Over in the stock market the Dow ended Wednesday with a 119 point loss but looks about 32 points higher at the open....That will change once the data hits the tape....Today's economic calendar also contains the Initial Weekly Jobless Claims where the Street expects to see 525,000 first time claims for unemployment compared to last weeks 531,000.....Better but still a terrible number......Let's see how the day plays out.....That's it......Peter R.....Toll free 1-877-448-0080....Please call for our latest complimentary informational package on precious metals investing
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