September 24, 2018 -- Gold and silver prices gained a bit of ground in last week's trading and are up slightly this morning. The U.S. dollar weakened against other major currencies, which likely helped the metals find some bidding.

However, the bigger test will come this week as the FOMC meets to presumably hike interest rates.

The overwhelming consensus is for another quarter percent rate hike.

And the central planners on the FOMC have been reluctant to surprise anyone over the past several years.

Watchers will be paying close attention to what the Fed says about the future direction of monetary policy. They will also be watching for a reaction from the president.

Donald Trump has recently been critical of the central bank's policy of tightening. (This despite being critical of Janet Yellen keeping rates artificially low during his 2016 campaign.)

The midterm elections are just around the corner. One thing Republicans do not need or want, is any sign of economic slowing ahead of the November voting. That is likely why the president is promoting lower rates and a weaker dollar.

In addition to central bank diktats, investors will also get a look at key reports on Durable Goods, GDP and incomes. It promises to be a busy week in the markets.



Check out live precious metals prices here:
https://goo.gl/gy5XMA