A-Mark-Precious-Metals-IncYesterday, US home sales for the month of May came in better than expected and rose by 5.1% to 5.35 million units, the best figure since 2010.  Gold had already failed two days in a row at its 200 day moving average and the positive US homes data was reason enough for it to retreat 1.50% yesterday.  Greece is in the headlines yet again with a 48 hour extension being granted for the country from its creditors.  Greece needs a new financing deal in place in order to make a payment to the International Monetary Fund at the end of June.  There is optimism that an agreement is in sight which has European equities up and the euro plunging.   Gold is down for the third day in a row as the USD takes back some lost ground.  First support for gold is at $1,170 and then below there at the third point in a long term trendline from 2008 at $1,163.  Silver had been faring well recently, especially in light of gold’s lackluster performance.  But today that has changed and silver has wiped away two weeks of gains.  It is currently down over 2.50% and next support is coming in at $15.50.