Good morning Andrew,
Silver and Gold are steady to a shade higher in advance of today's European Finance Ministers Meeting; where Greece and its next 31 billion dollar bailout installment will be discussed....Meanwhile; France got a debt rating downgrade which is having surprisingly little effect on the Euro....Last on the Euro $1.2807 off 4/100ths of U.S. cent.....
As for the metals; Silver is up 2 cents at $33.23.......Gold is $1.00 higher at $1736.00.......Palladium is $645.00 off $3.00........Platinum is $6.00 lower at $1581.00....
Crude Oil is taking a breather after yesterday's stellar rise....Sudden optimism over the pending U.S. fiscal cliff served to drive a number of market sharply higher on Monday.....Last on Oil; $89.16 per barrel, down 12 cents.....
A quick look at the global stock markets shows us Asia closing flat to down 0.4%.......Europe is currently flat to down 0.6%.....Germany is our lone exception with a 0.25% gain........In the U.S. we find Dow futures indicating a milk toast 3 point higher open in the wake of yesterday's sharp 208 point advance....God help the markets if the fiscal cliff issue is not resolved.....
On the economic front traders will be watching today's release of October housing Starts and Building Permits....The estimates are far from inspiring....Housing Starts are expected to be 840,000 versus 872,000.....Building Permits which hopefully become housing starts are estimated to be 870,000 versus 894,000....
In other pressing news matters; Secretary of State Hillary Clinton is in the Middle East today to meet with officials in Israel, the West Bank and Egypt to discuss ongoing violence in Gaza, according to White House officials .........That's it......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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