The truth will set you free is an axiom that speaks volumes.

The truth will set you free is an axiom that speaks volumes. But this morning the truth that seems to be coming out has done little to set gold free of its negative shackles. Today’s Durable Goods Report was significantly lower than expected. Consumer Confidence was also lower and it has been said that Goldman Sachs announced lower expectations on this week’s GDP report due on Thursday. The logic seems to be a global slowdown will mean lower commodity prices instead of weaker US dollar. The market seems to be wishing for lower gold prices though the US dollar is losing some ground. It seems we are in a perplexing situation as the major funds are not convinced they should back the yellow metal yet. All indications are that tomorrow’s Fed Rate decision will be a non-event as they will most likely hold off due to the recent economic reports. Precious metals in general should benefit overall to the upside. However truth in our society does not always come out as perception promulgated by media may have a greater influence in the short term.