Yesterday’s ISM Manufacturing PMI and Construction Spending sure looked like positive figures

Yesterday’s  ISM Manufacturing PMI and Construction Spending sure looked like positive figures and along with what was considered surprisingly good auto sales gave a boost to the much maligned palladium price. But something is still amiss as the New York ISM reported down and fresh buying continues to flow into the GLD. It appears though that this may be more about Euro Zone weakness than just gold strength as the US Dollar strengthens as well. Technically it’s going to take a jump over 1250 before gold will trend to higher prices and silver will of course follow on that event as well. Palladium today is struggling to hold on and again has come under pressure. The world is always in turmoil and prices will gyrate around the news. Imagine if the news is that more people discarded the Gollum in their hearts. I am sure the economies around the globe would grow much better as liquidity of cash would flow and growth would come back since it is stymied by greed and self-concern of those that restrict capital flows.