Gold rose the highest since Nov 18 at $1288 in the moments before Yellen’s prepared remarks on hopes she would leave the door open for a slower taper. Instead, Yellen said the FOMC is likely to continue tapering in measured steps.
Gold prices immediately fell back to unchanged on the day at $1276.
Gold daily
The sellers haven’t been particularly jittery with the lows holding and prices bouncing to $1279.
Even with the modest reversal today, the fresh high in gold today points to lingering bullishness from the gold bugs.
