Good afternoon everyone,
Metals resumed their uptrend today following lower than expected payroll numbers, and an uptick in the rate of unemployment to 7.9%......The political pundits did their best to spin the data towards their political ideology, but metals traders smelled more quantitative easing on the way.......Silver finished the session at $32.04 up 60 cents per ounce.......Gold gained $8.00 to $1670.00......Palladium added $13.00 to close at $760.00 .......Platinum ended at $1694.00 up $5.00 per ounce....
The Euro currency ran wild on some better than expected EU economic data, and on the belief that it is here to stay, at least for the foreseeable future.....Last on the Euro$1.3659; up81/100ths of U.S. cent
Meanwhile, Oil remained in neutral, but the U.S. stock market is up by a solid 147 points as of 2:45PM Eastern......The data does not support the rally, but quite a few traders are pointing to the technical 14,000 level which is at our door step......Others are using prior month magical revisions for an excuse to buy......
That's it.....Sorry to be late......Have a great week-end..........
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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