Upbeat economic data from both Europe and the U.S

Generally upbeat economic data from both Europe and the U.S. have injected some optimism into the markets this morning but underlying investor sentiment remains cautious as long-term solutions to the world’s economic problems remain elusive. French and German second-quarter GDP numbers were better than expected. However, the euphoria was short-lived as the composite Eurozone GDP was reported to have shrank by .4% year-on-year highlighting the issues that the region still faces in bringing struggling economies out of economic despair. U.S. economic data was good but not too good as to impede the notion of inevitable central bank action in the near future. U.S. retail sales data was the best it’s been since the first quarter, increasing .8% in July while producer prices were up .3%. Platinum looks to be the winner in the precious complex this morning as the white metal touched as high as $1410  and is now at $1398…up more than $10 from yesterday’s close of $1386 . Gold is struggling to hold the $1600 mark while silver is reaching for the $28 level. Have a great day!