A-Mark-Precious-Metals-IncThe Fed leaving rates unchanged last week seems to have already been forgotten.  Gold finished last week on a high note and pressing to break through resistance at $1,140.  But this week it has started off with a whimper and has backed off the $1,140 handle to trend lower.  The USD has gained ground against the euro amidst market speculation that the Fed will eventually raise rates later this year.  USD strength today, combined with liquidation in the stock market, contributed to the precious metals moving south.  Platinum felt the most pain today as it plunged to six year lows.  Anxiety over global auto demand, a major share of platinum usage, seemed to be the catalyst for the exaggerated sell off.  Silver finished below its 50 day moving average and next support comes in at $14.50.