Good morning Andrew,
Precious metals are beginning the new trading week a bit lower in the wake of a stronger U.S. dollar and some profit taking following Friday's European Summit induced sharp price increases .....Silver is 21 cents lower at $27.43....Gold is down $10.00 at $1592.00 per ounce.....Palladium slipped $5.00 to $580.00......Platinum is $1439.00 off $14.00....Trading volume is expected to remain light this week as we approach the 4th of July holiday...Many traders have already departed ....
Meanwhile, over in Europe stocks continue to reflect enthusiasm from the Summit....The indexes are up 0.7%-to 1%.....On the other hand the Euro is weaker ....Last trade $1.2622 off 52/100ths against the Greenback.....Traders are also taking profits in the Oil market with Crude down $1.47 ....Last trade $83.49 per barrel.....
In New York; stock futures indicate a quiet open in the wake of Friday's 278 point rally in the Dow....You might have expected to see the New York open mirror Europe, but we have two economic reports to contend with, and both are expected to be weaker than the prior report....The ISM Manufacturing Report for June is expected to clock in at 52.5, weaker than May's 53.5.........Construction Spending for May looks to be up .2%, also worse than the prior reading of up .3%.....Nothing to be excited about.....I hope you found time to read the research article I sent out on Saturday with talks about the European Summit...That's it.....Have a good morning.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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