Weekly Outloook of Gold/Silver/Copper Futures.

profitaddaweb.com-Gold prices rallied on Friday,closing just below a 27-month peak,amid fading expectatons of a federal Reserve rate hike in the next couple of months and as investors continued to digest the political and economic aftermath of the U.K.'s decision to leave the Europen union.

Gold for August delivery on the Comex division of the New York Mercantile Exchange jumped $18.40, or 1.39%.to settle at $1,339.00 a troy ounce by close of trade friday.

The metal surged to a more than two-year high of $1,363.60 on June 24,after a shock U.K. Vote to exit the Europen Union sent investors flooding into safe haven assets.Prices are up nearly 25% so for this year completing one of its strongest first havlves on record and made a high on monday of $1,360.15

Also on the Comex,Silver Futures for September delivery spiked 96.5 cents,or 5.18%.on Friday to Settle at $19.58 a troy ounce,after climbing to $19.98 earlier in the day,the most since August 2014.on the week,silver futures soared $1.75, or 9.87%,it's best week since August 2013.On Monday it Made a High of $21.207

Market players all but ruled out further rate hikes by the Fed this Year in aftermath of Britain's vote to leave the EU.According to the CME Fed watch tool.there's currently a 0% probability of a Fed rate hike in July and a 3% probability of a rate cut.

The Dollar index,which measures the greenback's strength against a trade-weighted basket of six major currencies,fell to 95.48 at one point Friday,the lowest since june 24.

Dollar weakens usually benefits gold and silver,as it boosts their appeal as alternative assets and makes dollar-priced commodities cheaper for holders of other currencies.

Meanwhile,the Political fallout from the Brexit Vote Continued after former London mayor Boris Johnson abruptly pulled out of the race to become Britain's next prime minister on Thursday.

Elsewhere in metals trading,copper for September delivery added 2.1 cents,or 0.98%,on Friday to end at $2.217 a pound,the highest since May 3 and on monday it made a High of $2.247

In the week ahead,market players will be shifting their attention slightly away from Brexit-related headlines and more towards economic fundamentals and U.S. Monetary policy,with the june nonfarm payrolls report and FOMC meeting minutes in the spotligh.There is also ISM services data on Wednesday.

U.S financial markets will be closed on Monday for the Independence Day holiday.