Wednesday Morning Silver and Gold Update for 6/27/12....Peter R....Southern Trust Metals, Inc.

Good morning Andrew,

Metals continued to trickle lower in overnight trading as sentiment seems to be leaning towards hope for this week's European Financial Summit....While this will be the 18th Summit since the European debt crisis began, a growing number of traders believe that something concrete will emerge from the two day conference scheduled to start Thursday....Other traders are flattening out positions in advance of the Brussels Summit.....In our opinion, the only hope for a solution to the European problem is for a unified and shared acceptance of the overall debt responsibility....So far Germany adamantly refuses to go down that path.....

In late morning London trading we find Silver changing hands at $26.91 off 24 cents......Gold is $1568.00 down $6.00 per ounce......Palladium is $13.00 lower at $584.00......Platinum sits at $1416.00 off $14.00......

European stocks are up about 0.3%.....The Euro currency remains eerily flat at $1.2498 up 6/100ths of U.S. cent......Crude Oil is 28 cents lower in the wake of a surprise half million barrel rise in the API Inventories....The Street is expecting a 300,000 barrel decline in today's EIA Weekly Inventories....Last on Oil $79.08 down 28 cents......

Meanwhile in New York the Dow looks about 11 points lower at the open....This is a bit surprising given this morning's U.S. data expectations....Durable Goods for May are expected to have risen 0.5% versus April's 0% change.....Pending Home Sales for the same period are expected to also show a rise of 0.5%, up from the prior month's decline of 5.5%....We might have expected a better opening indication, but European worries continue to take center stage....

In other news of interest;  the city of Stockton California has just filed for bankruptcy making it the largest U.S. city to do so....Not a good omen for the state of California........That's it....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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