| Good morning Andrew
Gold and silver fell overnight on speculation Chinese demand will decline before the nation begins the week
long Lunar New Year holiday.....Some global players are afraid to be exposed in a vacuum of Chinese buying support....We go through this every year...Meanwhile; there is a breakdown in the Greek debt restructuring negotiations with the European Union.....What a surprise!!!!
As for prices; Silver is $16.89 off 41 cents.....Gold is $8.00 lower at $1223.00.....Palladium sits at $789.00 up $1.00 per ounce.....Platinum is down by $6.00 at $1200.00.....
The Euro is up 6/100ths of a cent at $1.1412....Keep in mind there is two polarized views about the Greece....One view says that should Greece leave; or be kicked out of the Union, it will cause a negative chain reaction with other countries falling by the wayside, and ultimately a total collapse of the E.U......The other view says if you cut the weakest link, it will strengthen the rest of the Union....There seems to be no precedent either way....
Crude Oil is up 27 cents to $53.05 per barrel....The Russian/ Ukraine situation, and obviously the Middle East hot spots are leading Oil by the nose......
In stock market activity, Asia finished the Tuesday trading day mixed with modest change.....Japan and Singapore eased slightly while Shanghai and Hong Kong gained an average of 0.45%......European markets are mixed with very little change......Meanwhile; New York looks to open lower by 13 Dow points ahead the release of this morning's New York Empire State Index of Manufacturing.....The estimate calls for a reading of 9 versus 9.9...Not good!...The Greek situation is also placing a negative slant on early indications.....
That's it....Please feel free to call for strategies, or with questions and comments.....Your emails are always welcome............Have a good morning
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| Peter Rukrigl SouthernTrust Services, Inc. 145 Almeria Avenue Coral Gables, Florida 33134 Local 305-446-4800 Fax 305-446-4448 peter@southerntrustservices.com |
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