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Yellen: Gold movements a mystery

Nov. 14, 2013 11:18 AM ETGLD, IAU, DGL, DGP, DZZ, DGZ, UBG, UGL, GLL, SGOL, PHYS, AGOL, TBAR, FSG, UGLDF, DGLDF, GLDIBy: Stephen Alpher, SA News Editor16 Comments
  • "Do you follow gold prices," asks Nevada's Dean Heller. "To an extent," replies Janet Yellen (note to Yellen: They're ahead 1.6% to $1,290 this morning).
  • Giving a little more to the goldbugs than Bernanke ever did, Yellen does say gold can be used as a haven against risk, but "There isn't any economic model of what makes gold prices go up and down."
  • Hard-money maven Axel Merk: "Yellen may not understand gold, but gold understands Yellen. Gold up today."
  • Gold ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DGZ, AGOL, GLDI, DGLD, FSG, TBAR, UBG
  • Previous hearing coverage

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