Bernanke Comments Spear Gold Bulls (GLD)
Tweet Send to a Friend
Bernanke's testimony to Congress has gold traders trimming their bets, as near-term prospects for QE3 seem reduced and may depend on developments in Europe.
The spot price of gold is down $40 since Bernanke’s testimony began, breaking below 1600/oz and paring gains made since weak jobs data was reported last week. SPDR Gold Shares (NYSE: GLD), the ETF that tracks the spot rate of gold, is down 2 percent so far today.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The spot price of gold is down $40 since Bernanke’s testimony began, breaking below 1600/oz and paring gains made since weak jobs data was reported last week. SPDR Gold Shares (NYSE: GLD), the ETF that tracks the spot rate of gold, is down 2 percent so far today.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Markets Fluctuate on Chatter of Early QE Exit by Fed
- Market Wrap: 13F Season in Full Swing; Tesla Offers Equity; Gold Hits the Skids
- Loeb's Third Point LLC Enters Anadarko (APC), NXP Semi (NXPI), Tiffany & Co. (TIF); Exits Herbalife (HLF), Morgan Stanley (MS)
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Ben S. Bernanke
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
