Gold fell for a third straight session on Thursday after U.S. Federal Reserve Chairman Ben Bernanke hinted at reducing an $85 billion bond-buying program.
Dennis Gartman, founder and editor of The Gartman Letter, says tapering is still up for debate following Bernanke's Congress address and adds that as the underlying economy gets stronger, capital will come out of the equity market.
Gold fell for a third straight session on Thursday after U.S. Federal Reserve Chairman Ben Bernanke hinted at reducing an $85 billion bond-buying program.
Gold settled lower on Wednesday, giving up earlier gains after U.S. Federal Reserve Chairman Ben Bernanke warned of the risks of holding interest rates too low for too long, which boosted the dollar.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets. Traders remain focused firmly on tomorrow's testimony from Fed Chairman Ben Bernanke. And expectations for this week's oil inventories.
Gold, down in seven of its last eight sessions extended earlier losses on Tuesday on a firm dollar, weak technical signals and speculation that the U.S. Federal Reserve might rein in its stimulus program.
CNBC's Sharon Epperson takes a look factors that contributed to the major reversal in precious metals on Monday and what sent oil prices to a 7-week high. She also discusses events in the the coming days that could impact the price action in energy and metals.
CNBC's Sharon Epperson reports heavy short covering, bargain hunting and the weaker U.S. dollar today caused a major reversal in precious metals. Silver is up over 1 percent.
Bob Parker, senior adviser at Credit Suisse, tells CNBC that it is premature to reopen long commodity positions and how he doesn't see anything that will support the gold price.
Colin Hamilton, global head of commodities at Macquarie Group, tells CNBC that gold is being driven lower by a very strong dollar and continued ETF outflows.
Gold and silver prices gained about 2 percent after a roller-coaster session that opened with a gut-wrenching dive in silver prices to their lowest in 2-1/2 years before an abrupt midday turnaround.