Wednesday Morning Silver and Gold Update for 11/14/12....Peter R.....Southern Trust Metals, Inc.

Good morning everyone,

Silver and Gold are steady in cautious trading as the fiscal cliff moves a day closer, and in advance of today's U.S. economic data... .....As for the "cliff", yesterday Mr. Obama met with organized labor leaders to get their views on taxes and spending.....Today he meets with industry and corporate executives to do the same.....Can common ground be found?

On the economic calendar front traders await today's October reading of Retail Sales.....The estimate calls for a surprising decline of 0.2% versus the prior month's rise 1.1%.....Meanwhile; wholesale inflation in the form of Producer Prices is expected to be a non-issue....The Street is looking for wholesale prices to be up 0.1%.....Later today the Fed will release the minutes from its last FOMC interest rate meeting.....Will we hear about further quantitative easing?....Keep in mind the European economy continues to dangle by a thread....Should the thread snap; you can be sure the U.S. will face major repercussions as a result....QE is the only way for the Fed to help buffer the U.S. economy from the negative effects of a severe European recession, or Euro collapse....

In late morning London metals trading we find Silver and Gold  unchanged at $32.50 and $1723.00 respectively.....On the other hand;  Platinum and Palladium continue higher following a report from Johnson Matthey yesterday that pointed to larger supply deficits in both metals because of labour unrest in the South African mining industry......Palladium is $641.00 up another $5.00 per ounce.....Platinum edged up another $1.00 to $1589.00......Both metals were sharply higher on Tuesday.....

In stock market activity; Europe is currently flat to down 0.5%......Asian markets closed with gains of 0.3% to 1.3%......In the U.S.; the Dow is being called to open 50 higher; all but wiping out Tuesday's loss of 59.......

In other news of significance;  The Bank of England has cut its UK growth forecast to 1%, with recovery "slow and protracted" and inflation staying higher than previously thought......That's it.......Have a good morning.......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080

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