Stopping of short selling of stocks

Gross Domestic Product for Greece fell 6.9% and France announced flat. This is negative news but may have been offset a bit by the stopping of short selling of stocks in Belgium, Italy, France and Spain(something in principal I agree with for any equities market). This morning’s Retail Sales was the big new with it rising .50% and last month’s number was revised up as well to .30% , this gave another positive figure for the US Economy. This glimmer of hope has been enough to trigger the continued weakness in gold and positive support to the industrial metals across the board. Essentially since it is an August summer day in the major markets we can expect to stay close to current level the rest of the day while many traders rush home to their beach chairs and Corona beers with lime. In fact any more squaring up may show gold losing some more ground.

			DEC-Z		Sep-U			Oct-V		Sep-U
8/12/2011 10:24			Gold		Silver			Platinum		Palladium
Last			1,735.30		38.72			1,802.00		746.90
Price Change			(16.20)		0.11			9.60		13.10
Current Low			1,735.40		38.22			1,802.30		746.90
Current High			1,770.90		38.96			1,808.00		749.35
EFP			2.40/2.90		.01/.04			2/6		0/4
London PM Fixes:
AU			1,736.00		PT			1,800.00
PD			747.00
London AM Fixes:
AU			1,755.00		PT			1,790.00
PD			737.00		AG			38.290
			RH		1,850.00			RU		175.00
								IR		1,100.00
EUR			1.4237		1.4291			1.4238
JPY			76.70		77.02			76.71
GBP			1.6267		1.6312			1.6268
Copper			4.04		Crude			86.53
*PLEASE NOTE THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
Date	Time	Statistic		For		Actual	Forecast		Expects		Prior	Revised
12-Aug	8:30 AM	Retail Sales		Jul		0.50%	1.00%		0.50%		0.30%	0.10%
12-Aug	8:30 AM	Retail Sales ex-auto		Jul		0.50%	0.70%		0.20%		0.20%	0.00%
12-Aug	9:55 AM	Mich Sentiment		Aug		54.49	62		62.5		63.7	-
12-Aug	10:00 AM	Business Inventories		Jun		-	0.50%		0.50%		1.00%	-