After rallying earlier in the week, on the back of softer economic indicators, the precious complex loss of momentum has left the complex susceptible to profit taking

After rallying earlier in the week, on the back of softer economic indicators, the precious complex loss of momentum has left the complex susceptible to profit taking as we head into the end of the week. Gold has reversed course the least as the FOMC meeting next week will likely not result in any form of QE tapering, helping to cushion gold’s downside. The yellow metal closed yesterday’s session at $1350.30 and now trades $1343 to start the day. The bigger “head-scratcher” of the day is Platinum.  On Thursday, it was reported that a mediator, in the wage negotiation between the AMCU and Impala (World #2 platinum producer), has given a go-ahead for the mining union to strike. If you’ll recall, the AMCU is posturing for similar action against Amplats, the world’s largest platinum producer. Platinum now trades nearly 1% lower from yesterday’s close of $1456.2. Palladium and silver are in a footrace to reach lower levels. Palladium has given up more than 1.5% to start the day while silver is outshining all the others in the moves lower and sits more than 2% down at the moment. In economic news, durable goods orders rose with a great deal of help from aircraft orders. The University of Michigan/Thompson Reuters consumer confidence index will be released at 9:55 ET. Have a great day!