Gold markets had a strong showing during the Tuesday trading hours as the Federal Reserve Chairman Ben Bernanke gave testimony in front of Congress.
Gold markets had a strong showing during the Tuesday trading hours as the Federal Reserve Chairman Ben Bernanke gave testimony in front of Congress. Essentially, he had suggested that quantitative easing was still the way to go, although he wasn’t necessarily aggressive. The fact that he did not acknowledge that the central bank was ready to pull out of the quantitative easing game would have given the buyers of gold a little bit more confidence. We had suggested yesterday that this market was going to go to $1640, and looking at this chart there is nothing that changes our opinion of that.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
