(Kitco News) - Federal Reserve Chairman Ben Bernanke speaks Wednesday, the same day the June Federal Open Market Committee meeting minutes for June are released, and the combination of the two events could influence gold and other financial markets. It was after the June FOMC meeting that the Fed laid out its plan to eventually end bond-buying, known as quantitative easing. Despite Bernanke stressing that tapering purchases of bonds depended on the economic outlook was not the same as tightening, the markets didn’t take it that way. Instead, stock and commodity markets, including gold, fell and yields on U.S. Treasury securities rose on worries of rising interest rates. Since then the markets have come off their lows, but the release of the minutes could reinforce the more hawkish views and leave markets to focus on tapering and higher interest rates again.
Posted on: Wed, 10 Jul 2013 07:00:44 +0000
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