Thursday morning Silver and Gold Update for 1/19/12.....Peter R.....Southern Trust Metals, Inc.

Good morning everyone,

Looking across the Atlantic we see further positive sentiment after Spain and France successfully auctioned  another $18.8 billion worth of sovereign bonds....Sentiment also remains high in anticipation of a successful conclusion to Greece's negotiated debt settlement with private creditors.....Last on the Euro $1.2899 up 33/100ths of cent versus the U.S. Greenback.....Euro-zone stock markets are up by about .5%.....Over in the metals market we find prices continuing to edge higher taking their cue from a weaker U.S. Dollar.....Silver is $30.75 up 19 cents......Gold is $3.00 higher at $1664.00......Palladium sits at $678.00 up $7.00 per ounce....Platinum is changing hands at $1540.00; up another $12.00.....In the energy markets Crude oil is rallying in the wake of a surprising drop in the API Weekly Oil Inventories.....Supplies fell by an eye opening 4.8 million barrels.....Last on Crude; $101.69 up $1.10 per barrel.....You would expect to see U.S. stocks indicating a solidly higher open given the European climate, but so far traders seem to be taking a wait and see attitude until the release of this morning's U.S. economic data....Here are the latest estimates.....The Initial Weekly Jobless claims are expected to come in at 385,000; better than last week's 399,000....Consumer prices in the form of the CPI are estimated to be up .1% versus the prior reading of 0%.....Housing Starts for December are expected to clock in at 673,000 versus 685,000.....Building Permits which become housing starts look to be 680,000 versus 681,000.....The Philadelphia Fed Index of Manufacturing is expected to come in at 10; down slightly from the prior reading of 10.3......With the data looking quite mixed traders are playing close to the vest....Dow futures are indicated to open 18 points higher, at least so far....In other news of interest U.S. corporate icon Eastman Kodak has filed for bankruptcy protection after being left behind in the digital imaging revolution ..... In Washington the Whitehouse has turned thumbs down to the proposed Keystone pipeline project which would have allowed for oil to flow from Canada to Texas, as well as to generate tens of thousands of new jobs.....Environmentalists win out over economic needs again.....Go figure......That's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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