After the aggressive sell off

After the aggressive sell off in the precious metals yesterday, we are seeing slight rebound today. Palladium was down over 5% during the last session, but has since then managed to regain nearly half of the loss. Gold broke through the technically important 200 DMA ($1677.30) during the last 2 sessions, but has managed to close above it today. Silver traded through the its 200DMA four sessions ago and is now looking to test its 100 DMA ($32.359). If gold and silver trade through and hold below these levels, we could see further liquidation in the near term. Platinum and palladium have managed to find some support around the $1605 and $665 levels, but could have further to run to the downside should the liquidation in gold and silver continue.

The headlines out of the EU, reassuring that the upcoming Greek debt deal will go smoothly, have helped the EUR gain back some ground against the USD over the last few hours. The ADP # came out slightly stronger than expected this morning with a gain of 216K from a revised 173K. This helped fuel the fire of those who have been forecasting that the NFP #’s released on Friday will also be stronger than expected. On the back of this news we have seen a rebound in the equities and several commodities. All eyes will be on the jobless claims tomorrow and the NFP #’s on Friday. Good luck.

Metals	Last	%Change	Low	High
Au- Apr	1683.6	0.69%	1671.7	1687.7
Pt-Apr	1630.3	1.18%	1611.0	1635
Pd-Jun	686.95	2.25%	666.05	687.10
Ag-May	33.375	1.81%	32.755	33.610
London	AM	PM	Minor	PGMs
Au	1682.5	1677.5	Rh	1525
Pt	1620	1627	Ru	130
Pd	675	678	Ir	1100
Ag	33.17	DJI	12846.9	87.75
Currencies
	USD	EUR	JPY	GBP
USD	0	1.3149	0.012322	1.5743
EUR	0.7605	0	0.93709	1.1972
JPY	81.16	106.71	0	127.764
GBP	0.6352	0.83525	0.7827	0
Crude Brent	124.08	Comex Copper	376.65
Crude WTI	106.14	Nat Gas	2.304
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES