Los Angeles CA, July 28 (Tangible Investments) — by James O’Dell — Precious metals prices were higher across the board in early trading on Friday after GDP miss extends Gold rally. Gold is up 0.79 percent to $1,268.50 an ounce after gaining $1.00 on Thursday to close at $1,258.60 an ounce.

Silver is up 0.76 percent to $16.68 an ounce after easing $0.08 on Thursday to close at $16.56 an ounce. The Gold/Silver ratio rose to 76.00. Platinum is up 0.87 percent to $927.00 an ounce. Palladium is up 0.35 percent to $872.00 an ounce.

Gold hit another 6-week high in early trading on Friday in the wake of a downbeat GDP report. Advance gross domestic product (GDP) in the second-quarter rose 2.6 percent, year-on-year, just missing the 2.7 percent forecast.

“It showed a big fall in annual inflation rates across the board … so there is no urgency for the Fed to raise interest rates,” said Commerzbank analyst Carsten Fritsch.

“It’s difficult to get optimistic about rates or USD off the back of today’s release,” said Ranko Berich, of Monex Europe. “The US economy remains in growth, but there’s very little sign of inflationary risk in today’s GDP data,” added Berich.

Skinny Repeal Fails

Meanwhile, President Trump’s ability to get his promised tax cuts and other policies through Congress came into question again after the failure of the Health-care vote. Senate Republican leaders took their best shot to date at repealing the Affordable Care Act Friday morning and failed.

The measure, called the “skinny repeal” was voted down 49-51. The bill failed, after three Republican Senators led by Sen. John McCain, and all of the Democrats voted against it.

The two other Republican Senators voting against the legislation were Lisa Murkowski and Susan Collins. “It’s time to move on,” said Senate Majority Leader Mitch McConnell after the voting closed.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty. At Tangible Investments, it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts.

Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.888.655.9255 today. Let the helpful staff at Tangible Investments assist you in your next purchase or sale. You may also wish to click here to check out our eBay store. Tangible Investments is the leading buyer of rare, Gold and Silver coins, art, antiques, diamonds, sterling and flatware. We also loan against anything of value and offer more money at half the loan cost.