Model funds are rumored sellers of gold this morning, taking the metal through $800. This has contributed in the euro edging back below the 1.4100 level. Oil remains under heavy pressure, in the lows $104s.
Next up for the market are the pending home sales stats. A slowing in the rate of decline has been detected in the US real estate market of late which could be further helped by the lower mortgage rates which accompanied the Fannie/Freddie takeover.