The precious metals markets are recovering from Friday’s sell off.

The precious metals markets are recovering from Friday’s sell off. Of the most significant is Palladium which is up over 2.5% and looking very firm though there is no extra-fundamental news . After having hit what a appeared to be a rock bottom price of 650 last week it has turned around and if it closes above 687 today will represent technically a turn around. Gold has been holding above the 100 day moving average of 1306 and may target 1324 in the near future. Of course the market is still waiting for the Fed’s rate decision this Wednesday. But of almost equal importance will be the Bank of Japan’s announcement on Tuesday evening 11PM EST. If BOJ were to lower it may be another signal that the Fed may not be able to move anytime soon.