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Gold prices flirt with $1300 as Yellen moves to chair US Fed

Posted on 10 October 2013

Gold Prices dipped below $1300 per ounce for the first time in 1 week Wednesday afternoon in London, dropping 2.6% from yesterday’s high after news broke that Janet Yellen is set to lead the US Fed when Ben Bernanke steps down as chairman in February 2014.
The US Dollar rose, and European shares fell into the red for the day after earlier recovering losses. US stocks also dropped. Commodities ticked lower, as did major government bonds. Short-term US debt set to mature this month, after the October 17th debt ceiling deadline, fell hard to drive T-bill yields higher again to 0.36%. They were negative as recently as late September………………………………………..Full Article: Source


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