Good afternoon Andrew,
Metals ended the trading day on mixed note....Silver and Gold eased slightly after a day long tug of war prevented prices from running away; On the U.S. economic front traders got slapped with another round of weak data...The Chicago Purchasing Managers Index of Manufacturing fell to contraction levels when the index clocked in at 49.7; well below the estimate of 52.9........This put pressure on Silver and Gold....However; a little later, the ECB reported Spain's banks fared acceptable in their financial stress tests; easing the selling pressure on metals....By the end of trading we find Silver at $34.55 down 12 cents.....Gold closed at $1771.00 off $7.00 per ounce.....Palladium edged up $6.00 to $641.00.....Platinum remained strong on the back of on again off again mine worker problems....Last trade $1667.00 up $16.00 ......
The Euro slipped into negative territory as traders locked down profits in advance of the weekend, and for their quarterly bottom line results.....Last trade $1.2860 off 54/100ths of U.S. cent......Crude Oil remains higher by 48 cents at $92.33, with Iran and Israel remaining the wild cards......
In U.S. stock trading we find the Dow trading down some 36 points, at or near the morning levels....The U.S. data led the way.....By the way; the final reading of the University of Michigan Sentiment Index of Consumer Confidence also disappointed with a reading of 78.3, below the Street estimate of 79.....What a day, what a quarter.....That's it.....Have a good weekend......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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