It appears that the precious metals market has put on the brakes to the downside.

It appears that the precious metals market has put on the brakes to the downside. It may be that the New Home Sales numbers in the US were more than lackluster and surprised many yesterday. But this morning’s US Durable Goods Order report was much better than expected at up +.70% boosting confidence in the US economy and keeping a damper on any possible attempt to the upside for the gold market. Silver, platinum and palladium which have greater industrial consumption may have the ability to gain more to the upside on this data. With the global economy moving in a positive direction and the discounting of the geopolitical crisis, we will likely see on this Friday sideways price action for the complex. Gold has support at 1291 and resistance 1301, silver 20.18 support and resistance 21.08. Platinum has support 1463 and resistance 1483. Palladium has support 865 and resistance 882