Bernanke: The End Is Near
If the financial system does not relapse, the economy will return to growth this year, Fed chairman says. Click HERE to read full story......
Following , stocks Stumble after bernanke remarks.Fed chief points toward rebound and traders show little stress over bank tests. to read full coverage of information, click
May 5, 2009
Good afternoon everyone, The metals ended the day steady to higher in the face of better than expected U.S . economic data and the looming bank stress test results.....Gold edged up $3.00 to close at $904.00....Silver stood out gaining another 32 cents with traders bidding up the price in light of the ongoing improving economic outlook....Remember Silver has huge industrial demand....Last trade on Silver $13.42....Palladium stayed glued at $224.00 unchanged.......Platinum was up $10.00 to finish the day at $1130.00.....In currency trading the Dollar firmed up after the ISM Services Index clocked in with an index of 43.7.....The Street expected only 42.2....As a result we have the Euro trading at $1.3325 off 61/100ths of a U.S. cent...In energy trading the price of Oil remained under pressure on profit taking....Crude is presently down 45 cents at $54.02......Stocks fought to regain early losses after the ISM Services Index but the enthusiasm has since waned with the Dow off some 50 points... As for tomorrow the economic calendar is idle; however we will get the Weekly Oil Inventories at 10:30 am eastern....I'll be back in the morning with that estimate.....That's it.....Have a good afternoon.....Howard