Good morning everyone,
Metals bounced in overnight trading on the back of a firmer Euro currency, and in anticipation of today's speech by Fed Chairman Bernanke at the Federal Reserve Conference....There is a growing belief that Mr. Bernanke will reinforce the Fed's commitment to extended low interest rates .....That commitment has been called into question of late given the recent surge in U.S. bond yields and the flurry of better U.S. economic data.....
Looking at London we find Silver up 21 cents at $31.66.....Gold is $8.00 higher at $1650.00 per ounce......Palladium sits at $664.00 up $8.00.....Platinum is $1628.00 up $5.00......Meanwhile; the Euro is higher by 44/100ths of a U.S. cent at $1.3240.......Crude oil is up 33 cents on the weaker U.S. Dollar....Last trade $105.66 per barrel......
As for the stock markets; Asian issues closed with losses of 1.1%.......Euro-zone markets are flat to down .5%......The Dow is being called to open 14 points lower....U.S. traders are taking a wait and see attitude in advance of this morning's release of February New Home Sales where the estimate sits at 323,000 units; up 2,000 from the January reading....That's about it this morning......Have a good one....Call to receive our latest informational package on precious metals investing....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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