Monday Afternoon Silver and Gold Wrap Up for 10/1/12....Peter R.....Southern Trust Metals, Inc.

Good afternoon Andrew,

Metals bounced from the morning lows after European PMI Manufacturing clocked in at levels better than feared....While the overall European wide reading averaged 46.1, it was quite a bit better than the estimates.....Adding to the positive change in today's sentiment was better than expected U.S. manufacturing data....The Institute for Supply Management Index of Manufacturing clocked in at 51.5, better than the Street estimate of 49.7, and at expansionary levels......Markets moved higher both abroad and domestically......

Starting with the metals; we find Silver closing at $34.95 up 40 cents.......Gold gained $10.00 to $1781.00......Palladium was up $6.00 to end at $647.00......Platinum rose $13.00 and sits at $1679.00.....

In the currencies the Euro remained firm against the Dollar at $1.2894 up about a quarter of a cent against the Greenback.....

Crude Oil turned positive in the wake of Europe's and U.S. manufacturing results.....Last on Oil $92.35 up 16 cents per barrel.........

As I write this wrap up Fed Chairman Ben Bernanke is currently going through the question and answer portion of today's speech....The purpose of Mr. Bernanke's speech  was to get everyone including Wall Street on the same page regarding this latest round of quantitative easing, and its impact on the overall economy; i.e.. the dollar, and inflation....The result of the speech is causing a bit a weakening in the stock averages with the Dow still up 95 points, but well below earlier levels.....That's it....Have a good afternoon...I'll be back in the morning with the latest.......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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