Gold Price Fell After Bernanke Statement


Gold price fell after Chairman of the Federal Reserve, Ben Bernanke, gave mixed signals in his speech today.

The first gold market that was affected by the feds statement was the future market that stabilized around $1,360 where the spot market followed and is traded now at $1,357.75.

The head of the Federal Bank relate the ending to the QE program to the improvements in American job market.

He warned the American Congress from tightening the current monetary policies without confirming the market signals would hurt the growth. But he also suggested taping the bond purchasing pace in the next few meeting before the end of this year.