Asian Shares were weaker overnight, with the Shanghai market settling within close proximity to 3 year lows. European shares saw some initial gains in the wake of hopes for easing from the ECB but that optimism wasn't extended into the early US equity market action. Evidence of ongoing slowing was seen in the Euro zone this morning and there continues to be talk of yet another critical credit market show down in the Euro zone into the September time frame. The US scheduled report slate today is somewhat active with regional Fed manufacturing data due out and some tacit expectations for QE3 periodically popping up in the headlines. While gold and silver might garner some minor lift from significant strength in grain prices, the inflation story is mostly curtailed because of a lack of definitive forward motion in the global economy.The platinum market seems to have forged a consolidation pattern just above the even $1,400 level on the charts. Part of the underlying support for platinum prices might be coming from ideas of curtailed production in the face of crimped mining profitability. However, the ongoing fear of more global slowing has given some bears confidence over the last 4 weeks of trade. Some technical traders point to an increase in open interest over the last month, as a sign of value in platinum prices, especially when platinum prices dip below the $1,400 level. The Commitments of Traders Futures and Options report as of July 24th for Platinum showed Non-Commercial traders were net long 18,716 contracts, a decrease of 716 contracts. The Commercial traders were net short 20,623 contracts, a decrease of 1,433 contracts. The Non-reportable traders were net long 1,907 contracts, a decrease of 717 contracts. Non-Commercial and Non-reportable combined traders held a net long position of 20,623 contracts. This represents a decrease of 1,433 contracts in the net long position held by these traders.