Diminished Threat of QE Withdrawal Sets Gold on Track for Second Weekly Gain

Reuters reported that gold was on track to post its second weekly gain, given new life by Bernanke’s comments that the withdrawal of monetary stimulus is still dependant on economic strength.

As quoted in the market report:

It is still unclear whether the Fed’s tapering will start in September or December, and we still need some clarification on that before there will be a clear direction for the dollar and in turn for gold,” Danske Bank analyst Christin Tuxen said.

To view the whole Reuters report,click here.