December 11, 2017 -- Gold and silver prices lost more ground in recent days. Gold's performance last week was the worst since July, as speculators sold in the futures markets. Investors sold a few stocks and the U.S. dollar seems to have been the primary beneficiary.

On the other hand, gold and silver bugs were buying aggressively in the physical bullion markets. Last week's retail demand was the highest seen in several months.

Bargain hunters were out taking advantage of lower prices – particularly those available at Money Metals Exchange, America's low-cost dealer named "Best in the USA." Meanwhile, the volatility in Bitcoin continues to drive some interest.

The high levels of open interest in gold and silver futures from a few weeks ago appears to have mostly washed out, and that could translate to good news for prices. The bullion banks have completed the latest round of fleecing speculative long investors. Without many of those weak hands left to sell, perhaps we'll see the pressure come off of prices.

Janet Yellen will begin wrapping up her term as chief central planner at the Fed this week. The FOMC meets for the last time this year, with their decree on rates due Wednesday. According to the CME's FedWatch Tool a rate hike is a virtual certainty. Markets have been expecting a quarter percent hike for months.



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