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Good Afternoon Andrew,
Before getting into the Wrap Up portion of today's market action I have some personal news to share with you....I am leaving Southern Trust, and the investment industry to pursue a new venture after 37 years....I will be selling glass windows, doors, and glass fascia for high rise development projects.....While I will miss you and the last 13 years of helping to keep everyone appraised of market conditions affecting precious metals, I am very excited about my new endeavor....If you should happen to know developers, large scale general contractors, or architects dealing in commercial properties, please pass name on to them....I promise to treat them with the same professionalism and respect I've shown you....Meanwhile; in place of the daily updates, I ask you call Mariano Llosa, my long time associate and friend,,,,He will help keep you up to date and take care of all client needs....He can be reached at the number below....So; with that said, I thank you for your business and friendship over the years....Now the Wrap Up.....
The metals ended the day weaker after worse than expected U.S. economic data, a slashing of the Euro's outlook by Goldman Sachs, and another plummet in the price of Oil sent virtually all markets lower.....
Silver slipped 10 cents to $15.57....Gold fell another $10.00 to $1154.00 per ounce....Palladium is $794.00 off $5.00....Platinum sank $11.00 to $1119.00.....Metals performed better than most of the other markets I follow.....
Crude oil is down another $2.12 per barrel at $44.95.....Wow...Negative comments out of the EIA about oil demand send prices lower....In Europe, the Euro currency took another step towards Euro/Dollar parity....It fell 1.54 cents against the Greenback....Last trade $1.0481....Double Wow....
The weaker markets coupled with the bad U.S. data sent the Dow plummeting 235 points as of 1:48 PM Eastern.....
On the data front; Michigan Consumer Confidence fell from an expected 95.8 to 91.2....That is a big drop.....Meanwhile; wholesale inflation turned into unexpected deflation with a reading of -0.5% as opposed to the estimate of up 0.3%.....The data says it all.....So, when you see the administrations jobs and unemployment picture, you might want to raise an eyebrow in doubt....That's it.....Wishing you a great weekend.....Once again; please get in touch with my economic genius associate Mariano Llosa for further updates or client needs....He can always get in touch with me if you want to say hello.....All the best with your investments................................ | 
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Keep a civil tongue.