Precious Metals Mostly Up

March 25, 2010 - As investors look for positions outside of the currencies ahead of the Us Durable Goods report Precious Metals are ticking mostly up:

Platinum: $1587.00 +9.00

Palladium: $448.00 + 5.00

Silver: $16.70 + .14

Gold: $1090.40 + 1.90

Yesterday saw the Existing Homes Sales Report come in at -.6 a third straight month to month decline. Precious Metals rebounded on the news as investors looked for a safe haven against currencies. The -.6 declines is actually mixed news since January’s decline was 7.2%, and a decline of 1.1% was forecasted. Still overall weak sentiment in the dollar has investors squirming at any less than positive reports coming out of Washington.

Today brings about the US Durable Goods Report. This report tends to be highly volatile and can produce spike highs/lows. A month over month increase of .7% is being forecast, and January saw a revised number of 2.6%. If these numbers hold it would indicate an overall improvement in the underlining US Economy.

If yesterday was any indication, though; investors are extremely skidish of the Dollar strength. Economy improvement has been slow and methodical, and investors are adopting more of a wait and see approach. Positive reports are not being evaluated on the merits of improvement, but more on expectations. Any less than forecasted numbers released from Washington today could trigger positive price action for the Precious Metal group overall.

Many short-term and day traders are sticking to the sidelines prior to the US Durable Goods Reports, and this maybe well advised.

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Janet Villalon

Senior Staff Writer - Precious-Metal.org