July 25, 2016 -- It was more tough sledding in the metals markets last week as safe haven buyers continue to regain confidence and move back into riskier assets, such as stocks. Meanwhile, presidential politics has largely eclipsed any headlines regarding ongoing racial violence and terrorism abroad.

This week investors will shift their attention back to the Federal Reserve, in addition to keeping an eye on the Democratic National Convention. Fed watchers do not expect officials to make interest rate changes this week, but there will be the usual reading of tea leaves regarding what the Fed will do next.

We'll also see some new economic data this week on home sales, durable goods orders, and the first estimate of second quarter GDP.

Live prices at MoneyMetals.com show gold currently trading at $1,318.10 per ounce on the global market, and silver is coming in at $19.52.