Bill David Brooks
Gold Investors on the Clock Today (YahooFinance)
By 2:00 p.m. EST today, the world’s gold investors will have a better idea of what lies ahead of them for the month. By that time, Ben Bernanke will be reading the minutes from the last U.S. Federal Reserve meeting that he will chair. And if the last three trading days are any indication of which way gold bugs think that meeting will go, then we can expect another month of falling or stalling gold prices. That’s because gold investors themselves have been backing away from the shiny metal, in anticipation of another month of the U.S. supplying $75 billion worth of stimulus — with no additional easing. What about you? Do you think Bernanke’s willing to pass the baton to Janet Yellen in dead calm, or does he risk roiling the waters a bit as he leaves with another reduction in the Fed’s monthly bond purchases? We’ll all know at 2:00 p.m. EST.
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