$GLD and $SLV Prices as of August 27 2018 @moneymetals
8:44 AM
August 27, 2018 -- Precious metals finally caught a bid on Friday, and the rally pushed gold back above $1,200/oz. Silver finished within sight of $15/oz.
The move higher certainly helps the look of both metals on the charts. We’ll find out if improved technicals translate to more buying this week.
Weakness in the U.S. dollar may also help. The dollar lost ground despite Federal Reserve Chair Jerome Powell reaffirming the central bank’s commitment to further interest rate hikes. Powell’s monetary policy has come under criticism from President Donald Trump, who would prefer a weaker currency and more stimulus.
There is a busy schedule of economic data due out this week. Investors will weigh reports on international trade, and GDP along with personal incomes and spending. And, as always, they can expect plenty more political theater.
Check out live precious metals prices here:
https://goo.gl/sggYF1
The move higher certainly helps the look of both metals on the charts. We’ll find out if improved technicals translate to more buying this week.
Weakness in the U.S. dollar may also help. The dollar lost ground despite Federal Reserve Chair Jerome Powell reaffirming the central bank’s commitment to further interest rate hikes. Powell’s monetary policy has come under criticism from President Donald Trump, who would prefer a weaker currency and more stimulus.
There is a busy schedule of economic data due out this week. Investors will weigh reports on international trade, and GDP along with personal incomes and spending. And, as always, they can expect plenty more political theater.
Check out live precious metals prices here:
https://goo.gl/sggYF1
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