Good morning Andrew,
The metals complex slipped in overnight trading in lockstep with a half cent drop in the Euro currency....It appears currency traders are locking up profits in advance of an expected announcement from Greece regarding it's debt negotiations with private creditors....I spoke about this earlier in the week.....Last on the Euro $1.2918 off 44/100ths of U.S. cent.....Metal traders are taking their cue from the Euro by lightening up on positions....Silver sits at $30.44 off 9 cents.....Gold is $9.00 lower at $1646.00.....Palladium eased $6.00 to $674.00......Platinum is changing hands at $1511.00 off $12.00.....Crude oil is 44 cents lower at $99.77 per barrel.... In stock market trading Asian stocks closed higher by about 1% in the wake of China adding liquidity to its banking system.....Across the Pond we find Euro-zone stocks trading lower by .2%.....Domestically; Dow futures are indicating a 5 point lower open in the wake of internet powerhouse Google releasing disappointing quarterly results........In other matters; today's economic calendar carries one final report for the week....Existing Home Sales for December are expected to show a mild improvement with a reading of 4.55 million annualized units versus November's 4.42 million....That said; all eyes remain fixed on the Greek news wires.....That's it....
Peter R.....Southern Trust Metals, Inc
Toll free 1-877-448-0080
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