August 16, 2016 -- Markets closed broadly higher yesterday with U.S. stocks, oil, precious metals, and the U.S. dollar all gaining some ground. Despite the strong showing, there was not a lot of news driving the move.

The week's major scheduled releases of economic data begin rolling out today. Investors get a look at CPI estimates, housing starts, and industrial production. Tomorrow the Fed will release minutes from the July FOMC meeting. But trading activity is likely to remain light given that this week is the peak of summer vacation season on Wall Street.

The precious metals sector continues to draw attention for high-profile investors concerned about record stock prices and extraordinarily low interest rates. The latest being Jacob Rothschild, one of the heirs to the Rothschild banking fortune. He reported an increase of RIT Capital Partners' gold holdings by 8% and declared in a letter to shareholders, that "In times like these, preservation of capital in real terms continues to be as important an objective as any in the management of assets.

Live prices at MoneyMetals.com show gold currently trading at 1354.85 per ounce on the global market, and silver is coming in at 20.04.