Thursday Morning Silver and Gold Update for 7/12/12....Peter R.....Southern Trust Metals, Inc.

Good morning everybody,

Metals and stocks are lower this morning in a hangover effect from the release of  yesterday's Fed minutes....While the Fed clearly believes the economy is weakening, there was no indication that the Fed was about impose further stimulus (QE3).....Now keep in mind that the Fed comments were predicated on events prior to last Friday's dismal U.S. jobs report....We believe the Fed might be whistling a different tune when the next meeting convenes......Regardless the immediate market response was negative.....The Dow ended Thursday with a 49 point loss, and stock futures indicate the selling will continue this morning....Dow futures look about 100 points lower at the open.......

The disappointing Fed minutes served to lift the Dollar in overnight trading, and to pressure metals......The Euro is down another 57/100ths of U.S. cent at $1.2190....In late morning London metals activity we find Silver changing hands at $26.72 off 39 cents.....Gold is $12.00 lower at $1564.00.....Palladium sits at $577.00 off $7.00.....Platinum is $1414.00 down $18.00.....

In the energy markets the price of Crude oil is down $1.13 per barrel as the disappointing Fed minutes and corresponding firmer U.S, Dollar is pushing traders to the sell side this morning......

In about a hour the Labor Department will release it's Weekly Initial Jobless Claims report which is expected to clock in at 375,000 versus 374,000....After last Friday's terrible employment data, trader whispers are calling for a higher initial claims number.....That's it.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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