Good morning Andrew,
Markets appear to be starting the new week with traders digesting or consolidating last Friday's broad based advances.....We are still scratching our heads and wondering whether the Friday gains were the result of a jump in the number of new jobs, or on the belief that the Fed might act soon given the jump to 8.3% in the unemployment rate....
With that said, we find metals trading in mixed fashion in late morning London activity.....Silver is $27.80 off 8 cents......Gold is $3.00 higher at $1609.00.....Palladium sits at $579.00 off $5.00 per ounce.....Platinum is $17.00 lower at $1404.00......
In the energy markets the price of Oil is a shade weaker after Friday's sharp gains with traders pointing to profit taking, and this morning's firmer U.S. Dollar.....
Meanwhile the Euro currency sits at $1.2362 off 26/100ths of U.S. cent, also on what appears to be profit taking in the wake of Friday's big advance.....
In global stock market activity Asian issues played catch up to the Friday New York close gaining 1.6%-2%......European markets continue to trade higher advancing another 0.5%....In New York; early indications point to a flat open with the Dow Jones Industrial Average futures leaning towards an 11 point higher open.....It feels like traders are nervously awaiting some fresh news out of Europe before deciding which way to move........
In other news of interest; NASA's rover Curiosity touched down deep in a Martian crater early Monday after a picture-perfect descent and landing, beginning what promises to be one of the most ambitious planetary missions in history.....That's it.....Hope you had a good week-end.......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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