Continued concerns with the European economy

We have the continued concerns with the European economy where they continue to kick the can down the road. We have worries from Iran threatening at the Strait of Hormuz and in Iraq possible pending civil war after the withdrawal of US troops. However it is not all doom and gloom as last week’s U.S. economic statistics were much better than expected. But don’t get overly happy either, this morning Sears announced the closing of up to 120 retail store in the Sears and Kmart brand. Not a positive announcement. We also have next week to look forward to. The Mayan prediction of the end of the world in 2012 is sure to come and pass without fanfare. This week we will surely be range bound and though gold is feeling pressure, rumored to be Central bank selling, we do not expect a major move in either direction for gold or the rest of the group. Consumer Confidence came out better than expected this morning a continuation of the positive string of data for the US of late.*London is closed today. There will be no fixes.

12/27/2011 10:15	Last	%Change	Low	High
Au- Feb	1,598.40	(0.47)	1,592.50	1,609.20
Pt-April	1,442.20	0.55	1,425.30	1,443.00
Pd-Mar	660.10	(0.92)	651.65	661.00
Ag-Mar	29.030	(0.180)	28.720	29.220
EFPs	Au 1.20/2	Pt 4/8	Pd 0/4	Ag -3/3
London	AM	PM	Minor	PGMs
Au	-	-	Rh	1400
Pt	-	-	Ru	110
Pd	-	-	Ir	1100
Ag	-	DJI	12,315.42	21.42
FX	Last	%Change	Low	High
EUR	1.3063	0.03	1.3040	1.3083
JPY	77.84	(0.13)	77.76	78.03
GBP	1.5664	0.23	1.5591	1.5701
CHF	0.9345	(0.11)	0.9327	0.9384
Others	Last	%Change	Low	High
Crude- Jan	100.650	0.670	99.670	100.950
Copper-Dec	3.419	(1.290)	3.430	3.399
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES