New Home Sales fell 3.3% in February with a reading of 440,000.

New Home Sales fell 3.3% in February with a reading of 440,000. People are feeling optimistic about the economy as seen by yesterday’s Consumer Confidence result of 82.3 vs. expectations of 78.6. Gold is seeing light support as a safe haven appeal, but the gains are short lived as the overall sentiment for the metal is bearish amid expectations of rising rates. Physical demand for gold remains very weak despite the lower prices. The Palladium situation seems to be somewhat easing and the metal is trading 1.53% on the downside this morning. Core Durable Goods Orders for February are up .2% vs. January’s .9%.