Nearly 1.3 million new cars and trucks were purchased in the month of Augus

The PGM complex received some support following yesterday’s report of strong auto sales figures. Nearly 1.3 million new cars and trucks were purchased in the month of August, up 20% from the same time last year. GM, Ford and Chrysler all posted increases of more than 10%. However, ISM data showed manufacturing activity slumping yet again. The index slipped to 49.6 from the previous months 49.8. Markets across the financial landscape ended mixed on Tuesday as investors await a key event in Europe and the all-important government jobs data on Friday. The precious metals complex is trading slightly lower than yesterday’s close but should remain in a tight range as there are no more economic reports on tap for today. On Thursday, ECB President Mario Draghi takes center stage in a heavily anticipated meeting of Eurozone central bankers. He is expected to outline his plan for bringing borrowing costs under control. Have a great day!