Good afternoon Andrew,
As the New York metals trading day draws to a close we find prices flat to a shade lower....Traders spent the bulk of the day flattening positions in advance of the long week-end, but more importantly ahead of Monday's European Finance Ministers Meeting where the powers are expected to rubber stamp the official approval for the Greek debt bailout....Given all the ongoing glitches and delays, a good number of traders decided to move to the sidelines just in case we get another surprise on Monday.....As of the close Silver sits at $33.22 off 24 cents.....Gold is $1725.00 down $2.00.....Palladium is $8.00 lower at $697.00....Platinum held on to a $7.00 gain to close at $1635.00.....Looking at the currencies it appears traders remain tentative as well with the Euro changing hands at $1.3153, up a fractional 18/100ths of cent versus the U.S. Dollar.....Over in the energy markets geopolitical tensions involving Iran kept a fear premium in today's pricing......Traders also seem to be temporarily optimistic that the Greek saga is close to an end....Last on Oil $103.29 up 98 cents per barrel.....As for the stock market; the Dow is up 35 points in tentative trading if front of the Presidents Day week-end.....Today's economic data was tranquil with CPI up .2%, and the Leading Economic Indicators up .4%...Both a shade below the estimates....So; once again traders will be relegated to watching the week-end European news wires for hints of Monday holds......That's it.....Remember U.S. markets and banks are closed on Monday.....Have a great week-end....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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