Good afternoon Andrew,
Commodities including precious metals moved higher across the board today in the wake of the Greek debt deal, and on China's lowering of it's bank reserve requirements....New found hopes for improved economic activity sent U.S. traders scrambling to the buy side in virtually all markets .... As New York metals trading comes to a close we find Silver sitting at $34.29 up $1.07......Gold surged $33.00 to $1758.00.....Palladium gained $18.00 to end at $715.00....Platinum finished at $1688.00 up $53.00 per ounce....Needless to say trading was active.....In the currency markets the Euro pushed higher by 45/100ths of cent against the U.S. Greenback....Last trade $1.3254.....In energy trading the price of Oil exploded for a myriad of reasons....Besides the reasons mentioned above geo-political anxiety surrounding Iran added to the buying pressure....Furthermore; lets not forget Saudi Arabia lowering its production levels just when we need it.......Last on Crude $106.06 up $2.46 per barrel....Just when we see a glimmer of hope for economic improvement, traders now have to start worrying about spiraling fuel costs derailing those hopes.......As for the stock market, trading remains volatile with the Dow eclipsing the 13,000 level for the first time since 2008.....The Dow is currently 12,979 up 29 points ......Quite a day.....That's it.....I'll be back in the morning with the latest....Call for strategies.....Have a good afternoon.....
Peter R.....Southern Trust Metals, Inc.....
Toll free 1-877-448-0080
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