Gold Recovers From Initial Dip on Bernanke

Gold Recovers From Initial Dip on Bernanke

metals prices are closing and gold was the focus with the collar during bernanke's testimony. sharon is tracking it. gold prices unchanged the last several sessions when it comes to the close and once again, we're seeing gold prices finishing up the day at 1590. there was no hint about qe-3. as many traders and analysts started listening to what he was saying during the q & a period and interpreting what could happen down the road as the chief economist pointed out, we see a 50-50 chance of some type of easing down the road if the economic data continues to deteriorate. the fact remains, gold prices have been stuck in this $100 range the past two months and there have been no real catalysts to get gold out of this range. as one trader told me, seems like the fed is a red herring, even if the fed or central banks do some monetary easing, it will take economic conditions improving to get a catalyst in the market. money still coming in. looking at precious metals seeing inflows in the second quarter, upwards of $700 million