Gold Spikes As QEeen Yellen Mentions Fed’s Tools (Then Slides As She Warns “QE Can’t Go On Forever”)

UPDATE: Gold is slipping back as Yellen notes:

• *YELLEN SAYS QE `CANNOT CONTINUE FOREVER’
• *YELLEN SAYS FED TAKES RISKS OF QE `VERY SERIOUSLY’

 

Yesterday was equity markets turn to get all exuberant over Yellen’s promises. Today, it is the reality that she will do whatever it takes and her mention of data-dependence and ongoing use of Fed tools that is sending gold (and silver) higher.

 

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/wGJw4uHHADs/story01.htm Tyler Durden