Tuesday Morning Silver and Gold Update for 10/30/12.....Peter R.....Southern Trust Metals, Inc.

Good morning Andrew,

U.S. financial markets will remain closed today as authorities wade through the preliminary damage reports associated with Hurricane Sandy....Flooding is widespread with over 8 million people without power....In other parts of the world trading continues......

Looking across the Atlantic we find precious metals trading higher in late morning activity.....Silver is up 28 cents at $32.05......Gold is up $5.00 and changing hands at $1714.00....Palladium is $598.00 up $7.00.....Platinum is $14.00 higher at $1554.00.....European activity is limited given the U.S. shut down......The Euro is 50/100ths of U.S. cent lower at $1.2957......Worse than expected Spanish flash GDP numbers, and higher than expected German unemployment are cited......Meanwhile, Oil remains weak as disappointing global economic data, and an out of commission northeast United States implies weaker energy (oil) demand....Last on Crude $85.54 down 74 cents per barrel....

Asian stock markets closed 0.1% to 0.2% higher.....U.S. Dow futures indicate a theoretical 14 point lower open if markets were to trade  today....The lower implied open is a bit curious given today's expectations for improved U.S. data.....

In other matters; a number of corporations are delaying the release of their latest quarterly earnings......The Labor department is questioning whether it will be able to release the all important employment data this Friday.....While on the subject of data; the economic calendar is supposed to release the October reading of Consumer Confidence this morning...We do not know whether the report will be released, but the estimate calls for a reading of 72, up from 70.3.....Case Shiller Housing data is expected to prices up 1.7% versus 1.2%....The data; if released and close to the estimates would be considered good news, but with the markets closed, does it really matter?....
That's it......

Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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