$GLD and $SLV Prices as of January 29 2018 @moneymetals

8:37 AM

January 29, 2018 -- Gold and silver markets finished higher once again last week as the U.S. dollar continued its descent.

The greenback rallied briefly mid-week when President Donald Trump rebuffed Treasury Secretary Mnuchin's remarks favoring a weaker dollar.

However, currency markets pretty quickly discounted the President's rhetoric, and the Dollar Index finished near 89. Its performance at this year's start is its worst since 1987.

Silver hasn't led gold on the way higher so far this year, but last week's modest outperformance is a positive sign for many bulls. The white metal outperforming on a more sustained basis would serve as confirmation of a new bull trend in prices for both metals.

The gold market has been mired in a four-and-a-half year basing pattern. The rally that began late last year has taken prices up toward a major resistance zone. It's make or break time!

Check out live precious metals charts here:

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