Wednesday Morning Silver and Gold Update for 8/29/12.....Peter R....Southern Trust Metals, Inc.

Good morning everyone,

Metals drifted in listless overnight activity as traders continue to be caught in a cross current trading environment as we approach the Jackson Hole symposium, and next week's ECB policy decision.....

In late morning London action we find Silver changing hands at $30.80 off 13 cents......Gold is $2.00 lower at $1665.00 per ounce.....Palladium and Platinum are both down $4.00 at $636.00 and $1521.00 respectively......

The Euro currency is giving traders no directional guidance at $1.2557 off 8/100ths of cent against the U.S. Dollar.......

Crude oil is down 73 cents after Hurricane Isaac did little to no damage to sensitive Gulf oil production facilities......Last trade $95.60 per barrel...

In stock market activity we find Asia closing flat to a shade lower.....European stocks are flat to down 0.5%......U.S. stocks are being called to open flat....Dow futures indicate a 6 point lower open.....However; we have to get through some fresh U.S. economic data along the way.....The second estimate for our 2nd quarter GDP is estimated to show growth at 1.6%; a shade better than the first estimate of 1.5%.....Regardless; it's still a very weak number......This will be followed by Pending Home Sales for July where Wall Street expects to see 0% change versus June's decline of 1.4%.....Later in the day the Fed will release it's latest Beige Book....Named for the color of the report's cover; the Beige Book is an anecdotal compilation of business conditions within the Federal Reserve Bank's 12 districts.....That will hit the tape at 2:00 PM Eastern.....

So; with Hurricane Isaac apparently less destructive than feared, we are thankful and that's it .....Have a good morning.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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