The gold/silver ratio used by investors to determine when to buy and sell precious metals closed at 69.45 on Friday. This essentially states that 69.45 ounces of silver are needed to buy one ounce of gold. The ratio has increased nearly 4% over the past ten days and is up 4.2% over the past 30 days.

Precious metals declined this week, but losses in silver were much more pronounced as the market continued to backtrack from two-year highs. The grey metal has declined nearly 6% since the start of the month.

Gold, on the other hand, remains rangebound between $1,315 and $1,365. The yellow metal traded at the upper end of that range last week, reaching its highest level since the start of the month, before pulling back sharply on Friday.

A firmer dollar also weighed on precious metals Friday. After five days of decline, the dollar rose 0.4% against a basket of currencies.

US rate-hike bets fueled the dollar’s late-week rally and kept demand for precious metals at a minimum. Traders are pricing in about a one-in-two chance that the Federal Reserve will raise interest rates before the end of the year.

A deluge of economic data this week could either reinforce those bets or weaken them. The data-driven Fed is said to be waiting for key economic figures to improve before deciding to re-introduce a rate hike.

On Thursday the Commerce Department will release durable goods orders for July. Orders for manufactured goods meant to last three years or more is forecast to decline 3.5% in July after plunging 4% the previous month.

On Friday the Commerce Department will also release revised second quarter GDP figures.

Federal Reserve Chair Janet Yellen is also expected to deliver a speech on Friday as part of the annual Jackson Hole Symposium. The theme of this year’s event is “Designing Resilient Monetary Policy Frameworks for the Future.”