AS usual helicopter Ben is holding us all hostage..
See Rico..It is not me..or you for that matter ..
Portee
Gold Futures Close Down 40 Cents As Traders Await Bernanke Speech4 hours ago02:10 PM EDT, 07/16/2012 (MidnightTrader) -- Gold futures for August delivery on the Comex division of the New York Mercantile Exchange closed at US$1,591.60 an ounce, down 40 cents, or about 0.1%.
It was subdued day for precious metals markets, where many traders are on summer holidays and ones that remain await for Fed Chairman Ben Bernanke's speech before the U.S. Senate on Tuesday morning. Gold is likely to see further selling pressure if Bernanke doesn't offer any fresh hints that another round of quantitative easing is in the cards.
Similarly, price action was pretty tame for TSX precious metals names today; Barrick is currently up 0.4%, Goldcorp is down 0.3%, and Kinross is down 0.4%.
