Good afternoon everyone,
Metals pushed higher today as the Weekly Jobless Claims rose 4,000; and in the wake of European Central Bank President Mario Draghi stating the central bank was prepared to buy government bonds in order to stimulate the Eurozone.....Meanwhile the ECB left interest rates unchanged ........The Euro surged on the news and actions.....Last trade $1.3008 up 1.06 cents against the Greenback....
Metals closed in New York as follows: Silver gained 41 cents to $35.02........Gold was up $16.00 to $1793.00 per ounce.....Palladium surged $20.00 to end at $677.00......Platinum finished $35.00 higher at $1725.00.....
Meanwhile; oil recovered the bulk of yesterday's losses and currently sits at $91.18 up 3.07 per barrel......There are rumblings that the collapse of the Iranain currency is raising the likelihood of a possible overthrow of President Ahmadinejad, bringing into question future Oil supplies out of Iran.....Hey, its just one theory.....
In U.S. stock trading the Dow is up 91 points despite a rise in the Weekly Jobless Claims and a large decline in U.S. Factory Orders.....They fell 5.2%....Wow...Regardless; the Dow surged on relief over the European sentiment....
Traders will rush to make some final portfolio adjustments in the final hour of trading in preparation for tomorrow's U.S. Non Farm Payroll Report.....The latest estimate calls for 130,000 new jobs, and an 8.1% unemployment rate....I'll be back in the morning with up to the minute estimates.....That's it....
P.S. I'm sure you are wondering if last night's presidential debate affected today's trading direction and momentum, The answer depends on your political point of view....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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