Negative trending from yesterdays close appears to be setting the stage for the
opening of the market this morning. Stock action declined yesterday primarily
due to investor worries related to a financial instabilities in Spain. On the
flip side, inflation potentials in the United States downgraded with relatively
upbeat U.S. inflation data. These variables played a part in the negative
trending for precious metals. As of the end of day close in the United States
yesterday, precious metals were trending red across most of the board. Gold for
February delivery fell 1.29% and settled at $1,386.20 an ounce. Silver for March
delivery fell 1.80% and finished the session at $29.25 an ounce. Platinum per
ounce was in the red by .55% at $1,704.40 and Copper an ounce was trending red
as well at $4.13. The dollar gained strength on the euro, Japanese yen and the
British pound and investors focused on signs of positive economic improvements.
The positive inflation news lowered the interest in positioning with precious
metals. The Feds also reported that they would take action to keep interest
rates at relative low levels. The rates would be kept near 0 percent. Safe haven
investors sidelined themselves in light of the news. Pre-market action reveals
similar trending to begin todays session. Author: Camillo Zucari
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