Silver bested $18 per oz in intraday trading Friday: Its highest level since before the November Election

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Gold and silver prices rallied again last week. Silver bested $18 per oz in intraday trading Friday – its highest level since before the November election.

Note: Money Metals Exchange is the best place to find the most up-to-date gold and silver prices! 

Metals are getting some help from better looking technicals and interest from buyers looking for safety. And the rally came in spite of strength in the U.S. dollar last week. Investors will certainly be watching the ongoing drama from Washington DC this week.

Congressional Republicans are taking some heat for abandoning their promise to repeal Obamacare and enact tax cuts anytime soon. President Trump is expected to forward his own tax proposal sometime this week or next.

With so much going on in Washington DC these days, markets are less fixated on using economic data to forecast Federal Reserve policy. But the next FOMC meeting is in March, and officials have been signaling additional rate hikes are on the way.

On Tuesday and Wednesday, some attention will shift back to the Fed as Janet Yellen presents her outlook on monetary policy to Congress.

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