The Bernanke gold trading strategy
February 10 — Does gold rise whenever the Fed chairman speaks?
I was prompted to investigate just such a strategy by gold’s unexpected strength on Tuesday. I had devoted my column four days previously to the alarmingly high level of bullishness among gold timers, because of which contrarians believed bullion was vulnerable to a decline. And, sure enough, gold’s intraday low on Monday was more than $50 below its high of the previous Friday. ( Read my Feb. 3 column, “Gold’s rally will soon come to an end.” ) Read more.
