Good afternoon Andrew,
Metals ended the trading day flat to lower in the wake of a weaker Euro.....The worries surrounding Greece, and a stubborn Spain which still refuses to ask the Eurozone for needed bailout kept pressure on the unified currency, and holding down the price of Gold .......European sentiment took an additional hit after the World Bank lowered growth forecasts for the continent...
Silver ended the day down 1 cent at $33.98......Gold had a more meaningful reaction losing $9.00 to $1765.00 per ounce....Palladium closed $1.00 higher at $660.00.....Platinum edged down by $4.00 to $1694.00......Volume was moderate.....
The Euro tanked by 1.05 cents against U.S. Dollar.....Last trade $1.2862.......
Oil on the other hand surged by $3.31 per barrel as tensions rise in the Middle East....Syria, Turkey, and Iran, blah, blah, blah....Some traders point at today's subtle Chinese stimulus for the surge ......Last on Crude $92.61 per barrel.....
As for the stock markets, Europe closed with losses of 0.4% to 0.8%......Domestically, the Dow remains lower by 76 points on the weaker IMF European outlook, and on edginess in advance of the corporate earnings season....Alcoa kicks off the season after the close today....
When we return tomorrow the U.S. economic calendar resumes with a few secondary reports included the latest Fed Beige Book....That's it......I'll be back in morning with the latest.....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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