Good afternoon everyone,
Metals traded sideways throughout the day with traders playing it close to the vest in anticipation of tonight's presidential debate, and in advance of Friday's all important non Farm Payrolls Report.....
New York trading ended with Silver at $34.61 unchanged from Tuesday's close.....Gold managed a $3.00 gain, finishing at $1777.00 per ounce......Palladium edged up $2.00 at $657.00......Platinum ended at $1690.00 up $6.00.....Trading volume was light to moderate....
Meanwhile; Oil fell a surprising $3.52 per barrel after the Weekly Oil Inventories clocked in with a decline of 480,000 barrels....The Street expected a rise of 1.5 million.....Furthermore. U.S. output rose to its highest level in 15 years....
The Euro edged lower on profit taking, also in advance of this week's employment picture.....The wild card remains Spain....Will it ask for a bailout?........
In U.S. stock trading, shares moved higher after today's ISM Services report clocked in at a much higher level than expected......We got a reading of 55.1 well above the estimate of 53....Stocks are currently giving back the day's gains as we approach the release of the Fed Minutes, and also in advance of tonight's debate between Mr. Romney and Mr. Obama......The Dow is currently up a paltry 6 points......That's it....I'll be back in the morning with the overseas reaction to the debate......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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