Good afternoon Andrew,
Commodities including metals sold off in the wake of today's somewhat suprising improvement in employment.....While the number of new jobs limped in at 114,000; the surprise came in the rate of unemployment which mysteriously fell to 7.8%...Conspiracy theory erupted.......Retired GE President Jack Welsh went so far to accuse the administration on manipulating the numbers to deflect attention from Mr. Obama's presidential debate results......Those with political leaning towards Mr. Obama will fight to defend the legitimacy of the numbers...Those on the other side of the political isle will call for investigations to prove otherwise.....Regardless the U.S. rate of unemployment now stands at 7.8%.....The stock market rallied, and commodities weakened as the need for ongoing quantitative easing lessens......
Silver fell 50 cents to $34.50......Gold swooned $15.00 to $1778.00.....Palladium lost $13.00 to $664.00....Platinum closed $16.00 lower at $1709.00....Volume was moderate ......
The weaker commodity prices extended to Oil which fell by $2.38 to $89.33 per barrel......
The Euro managed to edge higher as the Eurozone markets closed for the weekend.....Last trade $1.3037 up 15/100ths of U.S. cent.......
Meanwhile the Dow remains higher by 48 points.....
This weekend should prove very intersting as U.S. political pundits brawl over today's contentious unemployment numbers......That's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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Keep a civil tongue.