Good morning everyone,
Metals are edging higher as the new trading week gets underway....Safehaven buying continues to be the mantra.....Looking across the Atlantic we find the Silver up 6 cents at $32.73.....Gold and Palladium are both $5.00 higher at $1737.00 and $614.00 respectively......Platinum is $1574.00 up $16.00 per ounce.....Trading is expected to be light today as a large number of participants will be absent in observance of the Veteran's Day holiday......
In other markets we find marginal changes in both Oil and the Euro......Crude is 17 cents lower at $85.90 per barrel.....The Euro currency is up 16/100ths of U.S. cent at $1.2724.....
A quick look at the global stock markets shows mixed results....Asian Markets closed from down 9% in Japan to up 0.48% in Shanghai......European stocks are mostly flat, to down 0.7% in Spain.......In New York the Dow Jones Industrial Average is expected to start the week about 18 points higher....
In other matters of importance, European Finance Ministers are actively deliberating the next tranche of aid for Greece after Athens voted to accept deeper austerity spending cuts....In the U.S. traders will begin to focus on the fiscal cliff as congressional leaders meet with President Obama this week to try and hammer out a framework for spending cuts, and revenue increases, better known as taxes, to hopefully avoid the looming automatic spending cuts and tax increases set to become effective January 1, 2013...........That's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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