Good morning Andrew,
Precious metals gained solid ground in overnight trading after China's 2nd Quarter GDP contained no negative surprises raising sentiment.....Wall Street expected Chinese growth to be at the 7.6% level, and that's exactly what we got....During the 1st Quarter China's GDP was up 8.1%....Markets expressed relief in the wake of no negative surprises; despite the economic slow down ....
In late morning London trading we find Silver up 29 cents to $27.50 per ounce....Gold is undergoing a solid rebound gaining $17.00 to $1583.00.....Palladium added $6.00 and currently sits at $583.00......Platinum is $1431.00 up $13.00.....
European stock markets are up .75% to 1.25%.....The Euro is changing hands at $1.2205 up a marginal 9/100ths of U.S. cent....Traders point to a decent reception to Italy's latest bond auction despite another Moody's debt rating downgrade for that country...
Meanwhile; in the energy market the price of Crude is 80 cents higher at $86.88 with traders breathing a sigh of relief to China's GDP......
Back in New York early indications are calling for the Dow to open 61 points higher after Thursday's loss of 31.....
Not a bad way to start the day.....That's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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