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Wednesday, July 30, 2008

7/30/08 Market Update - Silver, Gold, Crude Oil

The metals complex continued moving lower in overnight trading in follow up reaction to yesterday's slide in oil and the surge in the U.S. dollar. Silver is 22 cents lower at $17.14. Gold is off $9.00 changing hands at $908.00. Palladium is $386.00 down $6.00. Platinum is $3.00 lower at $1,742.00.

Our background barometers are mixed this morning with the Euro as shade stronger at $1.5592 up 27/100ths of cent versus our Dollar. On the other hand; Crude Oil continues to weaken at $121.38 down an additional 81 cents per barrel. Oil ended the trading day yesterday with a final loss of $2.55 per barrel.

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