Good morning Andrew,
We find the U.S. dollar gaining ground against the Euro this morning as the Italian elections seem to be reigniting European sovereign debt concerns.....The Dollar is getting further support after the Japanese Prime Minister nominated Haruhiko Kuroda to the post of governor at the Bank of Japan feeding dovish monetary-policy hopes.....The stronger Dollar is putting some slight pressure on the metals in late morning London trading.....Silver is 9 cents lower at $29.02....Gold is down $7.00 at $1590.00.....Palladium sits at $743.00 down $5.00.....Platinum is quiet at $1600.00 off $1.00 per ounce.....
In the currencies the Euro is up 35/100ths of a U.S. cent at $1.3103......Crude Oil is 30 cents lower on the back of the stronger Greenback......Last trade $92.46......
In stock market activity U.S. stocks closed Wednesday with a gain of 175 Dow points....This morning Dow futures point to an 11 point higher open in advance of todays U.S. economic data , and in hopes of some positive news regarding the Friday sequester deadline.......Here are the estimates for today's economic data.....The Weekly Initial Jobless Claims are expected to be 360,000; about 2000 less than last week.....The second estimate for the 4th Quarter U.S. GDP is estimated to show a rise of 0.5% versus the preliminary estimate of -0.1%.....That's a big change.....Last but not least, the Chicago Purchasing Managers Index of Manufacturing looks to clock in at 54 versus 55.6.....The data is mixed, but a shade better in the aggregate......
In other news Jack Lew was confirmed by the Senate be our new Secretary of the Treasury........That's it.....Call to receive our latest informational package on precios metals....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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