Wednesday Afternoon Silver and Gold Wrap Up for 2/15/12.....Peter R....Southern Trust Metals, Inc.

Good afternoon Andrew,

European markets fell from the morning highs as yet another new wave of Greek worries shaved the bulk of early session gains....The looming question remains.....Will Greece be able to successfully implement the draconian cuts necessary to meet the European debt reduction mandates?.....Euro-zone stocks closed with marginal gains of .4%....The Euro fell into the minus column shedding 56/100ths of cent versus the U.S. Dollar.....Last trade $1.3070.....Oil on the other hand remains solidly higher as worries surrounding Iran and it's flow of oil kept traders on the buy side....Today's less than expected rise in the Weekly Oil Inventories helped to keep prices lofty....Last on Crude $101.60 up 86 cents per barrel.....Iran has announced its intention to cut off European Oil deliveries....As for the metals; they pared early gains as the Dollar strengthened against the Euro.....Silver ended the session down 5 cents at $33.40.....Gold held on to an $8.00 gain closing at $1727.00 per ounce....Palladium was unchanged at $693.00.....Platinum finished at $1641.00 up $10.00....Volume continues to be moderate....In domestic stock trading we find the Dow down some 79 points as the European worries trumped a nice jump in today's U.S. manufacturing levels....The New York Empire State Index of Manufacturing rose to 19.5; well above the estimate of 14....The optimism was quickly tempered after U.S. Industrial Production clocked in with a disappointing 0% rise....The Street expected to see a gain of .6%.....Traders are presently awaiting the release of the minutes from the last Fed meeting looking to glean some trading direction insight....The release is due out at 2:00PM Eastern......When we return tomorrow the calendar remains in high gear with the following data-points on the schedule.....The Initial Weekly Jobless claims, Housing Starts, Building Permits, the Producer Price index, and the Philadelphia Fed Index on Manufacturing....That's a lot of data for traders to assess.....I'll be back in the morning with those estimates along with any overnight Asian and European developments....That's it ....Have a good afternoon.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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