Forex | Forex | Bernanke Comment on Inflation Stops Gold Rally (22/07/2009 12:16:23)

Bernanke Comment on Inflation Stops Gold Rally

August Gold is trading flat overnight.  Comments regarding inflation from Fed Chairman Bernanke seemed to have stopped the rally in this market in its tracks.  Yesterday Bernanke testified that the Fed has the tools to control inflation after it begins to increase interest rates.  This market is trading inside of a retracement zone so it could be finding resistance.  Bernanke’s comments should have triggered a sell-off but traders must be watching the Dollar for direction.


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