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Yesterday, the S&P/ASX 200 closed down by 5 points, finishing at 4,688.60.

The TD Securities monthly inflation report showed an increase of 0.4% for the month of November, bringing their annual inflation rate to 3% for the year. The biggest price gainers were in fruit & vegetables, which should come as no surprise if you do the food shopping in your household.

The Dow Jones Industrial Average closed 19 points lower to 11,362.19. The market were mostly dragged down after Dr. Ben Bernanke made comments on 60 Minutes in the U.S., that the recovery ‘…may not be self sustaining’. This rattled those in the market that fear another round of stimulus, already being called QE3.

Many have been critical of the Fed over its quantitative easing programs, saying that it will fuel inflation, however Bernanke said that ‘Fear of inflation, I think, is overrated.’

The FTSE added 24 points, closing at 5,770.28.

The Nikkei was down by 11 points, ending at 10,167.23, however volume was slightly lower than normal.

Silver pushed past USD$30 for the first time since 1980 last night. Reuters has an example which explains if you invested $100 in silver at the start of the year, the investment would now be worth $180, compared to $130 for gold.

The price of spot gold in Australian dollars is $1,438.08, while in US dollars it’s $1,423.42. The price of silver in Australian dollars is $30.37 and in US dollars it’s $30.06.

Copper is currently USD$3.97 a pound (AUD$4.01) Nickel is USD$10.68/lb (AUD$10.79) and Tin is USD$11.54/lb (AUD$11.66).

The Aussie dollar versus US dollar is AUDUSD 0.9892 and against the Japanese Yen it’s AUDJPY 81.79

Crude Oil closed at USD$88.92

The Daily Reckoning Aus

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