Greetings!, The precious metals markets are currently under pressure with gold trading approximately $10 lower at the time of this writing. This bearish pressure is in response to two of events, one which occurred today. It was reported that Greece could put together a coalition government as early as tomorrow afternoon. This caused some underlying pressure in gold. Most noteworthy today is the FOMC meeting that began today and will end midday tomorrow. The fact that Greece's coalition government might be created as early as Wednesday is important; however, the big issue still remains unresolved - their need to align their fiscal spending with their GDP. New fresh ideas are needed, so the European Union's sovereign debt crisis is far from being resolved. Of course the big news is the release of the minutes of the FOMC meeting. Many analysts believe that some sort of announcement is forthcoming as to whether the Federal Reserve will resume its loose monetary policies with another round of quantitative easing, or a continuation of Twist. The recent rise in the precious metals markets was an attempt to factor in the potential for more monetary easing. For that reason the lack of any announcement could put more downside pressure on gold as traders factor in new information. Therefore, traders may wish to liquidate their long positions prior to any FOMC announcements. Both gold and silver are trading roughly at our entry level price. As you know, when the Federal Reserve speaks traders and investors listen closely, and tomorrow should prove to be no different. As always, wishing you good trading Executive Producer | 
