Good afternoon Andrew,
Metals ended the trading day lower with prices very close to the initial morning opening levels.....Silver ended the session 52 cents lower at $28.46 per ounce....Gold finished at $1562.00 off $22.00....Palladium eased $7.00 to $597.00.....Platinum lost $23.00 to close at $1448.00....Volume was moderate....The trading lethargy remains the same as traders fear the unknown surrounding Greece; and for that matter the future of the Euro-zone....We did have one small offset to the negative news when China took another step to spark its slowing economy....The Government lowered its banks reserve requirements for the third time in six months....The purpose to allow its banks to loan out a greater percentage of its deposits, stimulating growth......
Getting back to Europe, the Euro currency fell another 76/100ths of U.S. cent today to $1.2844........The corresponding surge in the U.S. Dollar pressured Oil prices lower, beyond the loss levels already associated with economic demand concerns.....Last trade on Crude $94.59 off $1.54 per barrel.....
In stock market trading Europe finished the day with losses hovering around 2%........Meanwhile the Dow is 73 points lower with a loss of 0.57%.....
When we return tomorrow the U.S. economic calendar comes alive with three fresh pieces of data......Retail Sales, the Consumer Price Index, and the New York Empire State Index of Manufacturing take center stage for trader assessment.....I'll be back in the morning with the estimates......Until then; that's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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