If you find yourself waking up with a case of the Mondays let’s put things into perspective…

If you find yourself waking up with a case of the Mondays let’s put things into perspective…at least you’re not Billy Ray Cyrus waking up to see what his daughter did at the MTV Video Music Awards last night. Feel better? Suddenly all of this economic stuff doesn’t seem all that bad, right? Ok maybe not. U.S. durable goods orders plunged 7.3% in July according to the U.S. Commerce Department, a striking contrast to the 3.9% jump the month before. Couple this morning’s data with last week’s less-than-inspiring new home sales data and one could be led to believe that tapering of QE is not in the books for September or even December at this point. The precious complex is rather quiet this morning, most likely due to the bank holiday across the pond in London. The exception appears to be silver , up more than 2% and now trading $24.23 after closing Friday’s session at $23.738. Gold briefly broke the $1400 level in overnight trading but has since given back those gains and then some. The yellow metal now trades $1393. Platinum is relatively flat to last weeks close at $1541.60 while palladium trades a little more than $5 off Friday’s close, now at $744.40. Have a great day!