Tuesday Morning Silver and Gold Update for 7/17/12...Peter R....Southern Trust Metals, Inc.

Good morning Andrew,

Metals are edging higher in late morning London trading in advance of today's Capitol Hill testimony by Fed Chairman Ben Bernanke.....With recent  reports continuing to point to a weaker U.S. economy, Mr. Bernanke is being pushed into a corner with quantitative easing being the only way out....Traders believe today's testimony will be telling.....

Looking across the Pond we find Silver up 10 cents at $27.50 per ounce.....Gold is up $4.00 at $1596.00....Again we approach the psychological $1600.00 resistance level......Palladium is $587.00 up $5.00......Platinum sits at $1431.00 up $6.00....

The Euro currency is also a shade higher against the U.S. Dollar, not because of any good news out of Europe, but rather on beliefs that QE3 is imminent.....Last on the Euro $1.2296 up 29/100ths of U.S. cent.....

Oil is a shade higher on the back of a weaker U.S. Greenback....Last on Crude $88.63 up 20 cents pre barrel.....

U.S. stocks appear to be headed for a 50 Dow point higher open in advance of the Bernanke testimony, and in anticipation of earnings by industrial giants Johnson and Johnson and Coca Cola....

We do have a couple of U.S. economic reports this morning to help stir up the trading pot....Retail Inflation in the form of the Consumer Price Index (CPI) is expected to clock in with inflation up 0.1%, up significantly from May's decline of -0.3%.....Meanwhile; June Industrial Production is estimated to be up 0.3% versus a decline of -0.1%....The data leans towards the positive, but it does not erase yesterday's lousy retail sales data.....

In other news of interest German consumer confidence fell for a third straight month as the European debt crisis continues to keep a lid on German spending and economic outlook......That's it.....Have a good morning....Call to receive our latest package on precious metals investing...

Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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