Good morning everyone,
Metals and commodities in general turned lower in overnight trading after China announced it was raising national fuel prices, and that it's demand for iron ore was flattening out....The implications point to a slower economy....That's all it took.....Crude oil is down 74 cents at $107.33 with traders fearing slower Chinese demand....
Reactions in the global stock markets were negative as you might expect.....Asian issues fell flat to down 1.2%.....Euro-zone stocks are lower by 1.2% as well....Meanwhile; the Euro currency is edging lower at $1.3203 off 34/100ths of U.S. cent.....Domestically Dow futures are indicating a 55 point lower open in sympathy with the overseas markets....
As for London metals trading we find Silver changing hands at $32.40 off 56 cents.....Gold is $17.00 at $1650.00 per ounce.....Palladium sits at $707.00 off $1.00.......Platinum is down $7.00 at $1669.00.....Copper prices are down as well....
Today's U.S. economic calendar carries two fresh data points for trader consideration....February Housing Starts are expected to clock in at 705,000 units; down 6,000 from January; not good.....Building Permits which aspire to become housing starts are estimated at 695,000 versus 676,000; a good comparison......That's about it ......Have a good morning......Call for strategies or to receive our latest informational package on precious metals investing....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
To unsubscribe simply reply to this communication letting us know of your decision.....Thanks
No comments:
Post a Comment
Keep a civil tongue.