With little in the way of catalyst to propel the metals complex

With little in the way of catalyst to propel the metals complex to even fresher highs the market held relatively flat to yesterday’s close until just moments ago when the metals pushed southward. The BOE and ECB stayed the course with their respective interest rate policies and with the sharp pullback in the euro one could presume that the inquisition of Mario Draghi might not be going so well. Gold is down .5% now trading at $1666 and silver has fallen 1% in the early part of the session to $31.385. Platinum and palladium are nearing a .25% pullback. U.S. initial jobless claims had 5,000 fewer requests than the previous week but business activity in arguably the most prosperous country on earth dropped 2% to end 2012. Perhaps some cushioning can be had from Chicago Fed President, Charles Evans, comments that he doesn’t see the unemployment rate improving to 6.5% until mid-2015. The 6.5% is the threshold for which the Fed has said it will stop printing money out of thin air. Have a great day!