$GLD and $SLV Prices as of July 24 2017 @moneymetals

8:02 AM

July 24, 2017 -- The technical picture for precious metals markets improved significantly last week as gold and silver both moved higher. Many traders with stop loss orders on their heavy short positions were forced to cover, adding fuel to the rally.

Another big drop in the fiat U.S. dollar also helped metals prices. The DXY index fell below 94 for the first time in more than two years. It has been steadily downhill for the Federal Reserve Note since peaking at nearly 103 in December.

Congress is not inspiring much confidence in the greenback. Republicans failed again to deliver Obamacare reform and tax cuts later this year are looking less likely.

Meanwhile, the GOP leaders who enjoyed blaming Democrats for debt ceiling hikes during the Obama years are gearing up to ram through some major hikes of their own.

Check out precious metals live spot prices here:

You Might Also Like