Gold higher amid Yellen testimony; eyes $1,300

|By:, SA News Editor

Also enjoying the Yellen testimony (and her tenure thus far) is gold, ahead another 1.2% and $10 shy of taking out $1,300 per ounce for the first time since early November.

The QE exit is easier said than done, says Peter Boockvar. "I remain of the belief that just as QE helped markets in 2013, the reduced pace of it will be the headwind in 2014 which will eventually lead to a QE pause that will prove to all that the Fed is stuck in this vicious cycle of ease."

"3.5%, 21%, 38%," writes Barron's Brendan Conway, tallying (in order) today's gain in the gold miners (GDX), the YTD gain in the gold miners, and the YTD gain in the highly speculative junior silver miners (SILJ).

Related ETFs: GLD, GDX, GDXJ, NUGT, IAU, DUST, PHYS, SIL, SGOL, UGL, DGP, GLL, GLDX, DZZ, UGLD, DGL, SLVP, JNUG, DGZ, AGOL, GLDI, RING, DGLD, GGGG, SILJ, PSAU, JDST, TBAR, UBG