Tuesday Morning Silver and Gold Update for 6/19/12....Peter R....Southern Trust Metals, Inc.

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Good morning Andrew,

Metals continued to trade in a tight range during overnight activity as the world shifts its focus away from Greece,  and towards Spain and tomorrow's Federal Reserve Bank decision.....The push and pull of these opposing forces are keeping precious metals in check....

In late morning European trading we find Silver up 7 cents at $28.85......Gold is up $4.00 to $1630.00 per ounce.....Palladium remains unchanged at $634.00.....Platinum is changing hands at $1489.00......Meanwhile; the Euro curency is inching up 39/100ths of U.S. cent after President Obama met privately with Germany's Angela Merkel at the G20 Economic Summit.....The two have pledged to work together to help with the European financial mess..... Last on the Euro $1.2614.....

On the energy front we find Crude oil trading at $83.11 off 16 cents.....

As for the global stock markets, Asian issues closed a bit lower on profit taking in the wake of yesterday's fairly sharp advances.....European markets are flat to up 0.5%.....In New York early indications are calling for a 19 point higher open in the Dow.....That could change as the economic calendar carries two mid level reports of significance this morning....Traders will get a peak at U.S. Housing Starts where the Street expects to see a modest improvement with a reading of 719,000 units versus 717,000.....Building Permits which are destined to become housing starts are projected to be 725,000 versus 715,000....Not bad......

In a back to Europe final note, Spain is being  forced to pay significantly more to borrow short-term money this morning, a day after its long-term borrowing costs rose to a record high - increasing fears that the crisis in the Euro zone is entering another critical phase......Traders will be keeping a very close eye to today's European lending rate offer screens....That's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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