With the exception of palladium, the entire precious metals complex closed lower in trading today. Gold, silver and platinum all sustained losses today with silver prices experiencing the greatest percentage draw-down. Silver futures sustained a 1.2% price decline, with the most active futures contract giving up $0.18, and silver closing at $14.795 per ounce.

As this post-holiday week begins there is a mixed bag in the precious metals’ markets, with gold and silver trading fractionally higher on the day and platinum and palladium closing lower. Gold and silver are almost equal in their percentage gains on the day, with gold currently trading up .09%, and silver currently trading .15% higher on the day. This all with a moderately lower U.S.

The best way to characterize trading activity today is quiet. In honor of Good Friday tomorrow the precious metals markets will be closed and we are observing pre-holiday volume and range decline. As of 4:40 PM Eastern Standard Time gold futures are trading up $0.90, with the most active June contract fixed at $1277.70.

Ever since Thursday of last week gold has been trading under pressure. Beginning on April 11^th gold prices began a downward spiral, breaking below the 50-day moving average, exactly one day after market forces moved gold prices above that average.

Gold pricing continues its decent that began on Thursday with the most active June Comex contract trading as low as $1275.50 in overseas trading last night , and as of 3:00 Eastern standard time is fixed at $1279.30. Losing almost a full percentage point on the day.

Gold futures continue to trade under pressure, with the most active June contract closing down by $4.40 (-0.35%), and currently fixed at $1290.70. Although pricing recovered from the intraday low today which was $1285.30, any quick recovery from last Thursday’s price meltdown seems to be at check, at least for now.

This week was started on a solid and positive note. The entire precious metals group saw price advances. On Monday gold futures broke and closed above the key psychological level of $1300 per troy ounce. This was followed by two consecutive trading days which contained solid price advances.

“Slip slidin' away. You know the nearer your destination, the more you're slip slidin' away”
-Paul Simon.

Today was another mixed bag in the precious metals’ markets, with gold and platinum closing higher on the day, and silver and palladium trading lower. Over the last few weeks market participants have witnessed a decoupling of the precious metals, in which on many occasions, the individual precious metals do not move in tandem with each other.

There is solid support for gold as multiple factors shape market sentiment resulting in a much more bullish undertone. For the second day in a row gold is trading moderately higher, gaining over six dollars today matching its gains yesterday.