Morning all Thanks weekend crew So what a monumental brown solid...

Morning all
Thanks weekend crew

So what a monumental brown solid in the revolving overhead rotary blades the Australian political leadership has become as an unpopular bloke has been replaced by an even more unpopular bloke leaving the helm rudderless in the short term and at the whim of fringe thinking zealots and racists in the longer term! Excellent Smithers!
SPI futures are 32 points higher but local political fallout is likely to overhang sentiment in the short term.

U.S. stocks closed slightly higher Friday, the first day of the quarter, in a fourth day of gains after the post-Brexit sell-off.
The S&P 500 closed above the psychologically key 2,100 level and gained 3.22 percent for the week, its best since November. The Dow Jones industrial average gained 2.15 percent on the week, also its best week since November.
"It just brings us back to equilibrium," said Art Hogan, chief market strategist at Wunderlich Securities.
The major averages have recovered most, but not all, of their losses following the surprise British vote to leave the European Union last week. The Nasdaq composite had its best week since May.
U.S. markets are closed tonight for the July 4 holiday.

U.S. crude oil futures settled up 66 cents, or 1.37 percent, at $48.99 a barrel.

Base metals were higher
Nickel + 6.2%
Copper + 1.5%
Zinc 2.5%




Silver bulls are on a roll this week, with prices hitting another 22-month high near the $20 level. However, investors are concerned as to how much longer this rally could last.
Despite the metal's volatile nature, analysts are still sanguine on silver's outlook.
"I think the gold rally was Brexit related and the silver rally is a function of the cure to Brexit," said Vince Lanci of Echobay Partners. "I think CME does not want bubble behavior, and will be quick to raise margins like it did with gold. I welcome the reduction in volatility that would cause and happily buy dipsfrom margin hikes.
Gold $1341
HUI + 6%
AUD Gold $1798



AUD .7462

Have a good day