Good morning Andrew,
Markets traded in nervous fashion during overnight activity as traders brace for an onslaught of European sovereign debt auctions....Germany, Spain, and Italy all come to market today peddling their next tranche of bonds....Adding to the nervousness are reports of a possible Italian debt rating downgrade by Fitch's....Looking across the Pond we find the Euro currency trading lower by 69/100ths of a U.S cent at $1.2705.....Surprisingly the metals remain firm....Silver is $29.88 off 4 cents....Gold after breaking technical resistance is $6.00 higher at $1637.00....Palladium is edging higher by $1.00 at $639.00....Platinum is up $12.00 and changing hands at $1481.00 per ounce....On and off worries surrounding possible Iranian reprisals continue to keep potential short sellers at bay despite today's strong U.S.. Dollar .....Oil traders on the other hand seem to be worried more about today's European bond auctions and the pending U.S. Weekly Oil Inventores rather than Iran....Last on Oil $101.41 down 83 cents per barrel.....As for the U.S stock market; it appears to be following a current .5% decline in Euro-zone issues.....The Dow is being called to open 40 points lower after yesterday's gain of 70.....Later today the Fed releases its latest Beige Book....Named for the color of its cover; the Beige Book is an anecdotal compilation of current business conditions in the 12 Federal Reserve districts...That happens at 2:00 PM Eastern....That's it.......I'll be back in the afternoon with a wrap up....
Peter R.....Southern Trust Metals, Inc....
Toll free 1-877-448-0080
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