$GLD and $SLV Prices as of June 5 2017 @moneymetals

9:18 AM

June 05, 2017 -- Gold and silver gained more ground last week as the consensus around a June rate hike began to fade. The May Employment data missed expectations significantly, and it will be harder for Fed officials to stand behind claims that the economic recovery is picking up speed.

Officials are going to have to lean heavily on the roaring stock market for justification of any hike.

The equity markets remain in an alternate reality where poor economic data and lagging earnings don't matter. The major indexes all pushed further into record high territory despite the terrible jobs report.

The U.S. dollar was not immune to the news.

The greenback has now given back all of its gains since Trump's election. The move lower puts metals in a good position to regain their 2017 highs in the coming days.

Check out live precious metals price charts here:

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