The data for the past few weeks suggest that the US economy

The data for the past few weeks suggest that the US economy is performing better than those of the European countries yet the Euro/USD moved from below 1.29 to 1.346. The new home sales data point to a stabilizing housing market in the US. With the recovering US economy and the rise in commodities and raw material prices, we should see inflation creeping up in the coming months. The Fed will most likely be forced to change their language on keeping the low interest rates low until 2014 to hints of rising rates. As the pressure continues on the euro zone economies, the ECB will not be able to keep the interest rate floor of 1% and will be forced to lower rates in the coming months as GDP and employment data continues to worsen. We would expect the dollar to strengthen from these levels and take some stream out of the gold and silver trade. Silver ETF have attracted new interest this week helping silver to outperform other PGMs. Platinum and palladium prices are being supported by the slow pace of production recovery from the strike at the South African mines. As the striking workers return to work slowly, we should see prices come off unless we see stronger industrial demand in the near future. Crude prices will remain at current level as diplomatic efforts and sanctions takes time to resolve with Iran. The US Stock market and precious metals broke out of the trading ranges so far in 2012, we will be carefully monitoring if we can hold these key supporting levels.

Metals	Last	%Change	Low	High
Au- Apr	1776.5	-0.54%	1772.4	1784.4
Pt-Apr	1721.6	-0.05%	1708.5	1729.9
Pd-Mar	714.55	-0.54%	709.75	720.00
Ag-Mar	35.425	-0.35%	35.190	35.720
London	AM	PM	Minor	PGMs
Au	1778.5	1777.5	Rh	1540
Pt	1717	1714	Ru	135
Pd	717	714	Ir	1100
Ag	35.57	DJI	13004.48	19.79
Currencies
	USD	EUR	JPY	GBP
USD	0	1.3467	0.012367	1.5877
EUR	0.7426	0	0.9184	1.179
JPY	80.86	108.89	0	128.375
GBP	0.6298	0.84824	0.779	0
Crude Brent	124.61	Comex Copper	386.9
Crude WTI	108.88	Nat Gas	2.532
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES