Apparently the catalyst for the strong move higher in gold today was a speech given by Chairman Bernanke in front of the National Press Club this morning. Basically he repeated what I have been writing about for the past few weeks: QE isnt working in terms of Job growth and and stated, "It will be several years before the unemployment rate has returned to a more normal level,”
The market took this as a signal that there will be more easing. S&P was down 7 or 8 points and began to rally, gold spiked around noon as did silver.
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