This week’s failure to close above $1300, is most likely signaling a conclusion to the current rally, and the beginning of a correction.

Both gold and silver are trading modestly lower on the day, and platinum and palladium are trading higher. As of 4:20 PM Eastern standard time February gold Comex futures are trading off by $2.70 (-0.21%), and fixed at $1291.10.

The entire precious metals complex is trading higher on the day. Gold futures are currently up $4.90 (+0,37%), and fixed at $1293.20.