It should also be said that Bernanke implicitly acknowledged Tuesday the utter failure of his quantitative easing program.
They believe the Federal Reserve has suppressed yields by artificial means, namely, a quantitative easing program that cannot be maintained indefinitely.
Given current dissent among Federal Open Market Committee members, it is unclear whether a new quantitative easing program will be announced.
Some may argue the relative calmness in the markets was due to the Federal Reserve intervening in the markets with its quantitative easing program.
However, the FOMC is likely to remain divided as the minutes revealed other members firmly behind a longer continuation of the quantitative easing program.
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The previous record was 6.45 billion shares, set on April 5, the day after the Bank of Japan announced its more aggressive quantitative easing program.
He said the U.S. should wind down its quantitative easing program.
Further, some said if the Federal Reserve comes out with some sort of quantitative easing program at its meeting next week, then that will underpin prices.
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The market is likely waiting to see what Fed Chairman Ben Bernanke has to say regarding the quantitative easing program, which is slated to end this month.
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The Fed chairman this month again denied a connection between his Quantitative Easing program (supposed to run until June) and the constraints that many emerging economies face.
The markets will be holding their breath to see what Chairman Ben Bernanke has to say regarding the winding down of the second quantitative easing program, which ends this month.
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However, the wording of the FOMC statement will be closely scrutinized for clues of upcoming Fed policy actions, including if and when to start to wind down its quantitative easing program.
Part of that comes from the comments by the Federal Reserve after the release of the December meeting minutes where some monetary policy committee members suggested ending the quantitative easing program this year.
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Additionally, the disappointing jobs report will provide the Federal Reserve, which also overemphasizes the employment picture as an important indicator, with reason to continue with its quantitative easing program, additional fuel for the economy.
REITs also have benefited from a dearth of new construction in recent years and the record-low interest rates resulting from the Federal Reserve's quantitative easing program, which has enabled them to raise cheap capital.
He said the fall in gold started after the Federal Open Market Committee March meeting minutes were released last week showing there was discussion about ending the quantitative easing program early, possibly by the end of this year.
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The Dow Jones Industrial Average rose for a tenth straight day to hit a record high of 14, 530 Thursday -- matching a winning streak in 1996 -- as investors continue to be buoyed by the Feds quantitative easing program.
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In the past month, as the European Central Bank (ECB) has been buying European government bonds in a belated quantitative easing program, Greece has received clear support as the two- year spread on its paper over Germany has widened by just 61 basis points or 0.61%.
Bernanke referred to the Federal Reserve's quantitative easing program to buy Treasury securities as a successful measure in stimulating long-term interest rates and raising the prices of equities, while also emphasizing that the practice does not really constitute government spending, as the Fed is not purchasing goods and services.
The next potential risk event for the exchange rate between the dollar and the yen could be the Group of 20 finance ministers meeting in Washington set to commence later, where it's possible that representatives of other countries could express their view on Japan's quantitative easing program and its potential impact on the global economy.
What could support gold is if the ECB embarks on a quantitative easing-type program.
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Perhaps conditions would be worse if the Fed were not engaged in an aggressive program of quantitative easing, but that is even harder to prove.
This is exactly what the Fed has been doing with the program of quantitative easing, prompting many analysts to comment on the liquidity flood of biblical proportions.
The markets are moving up on hope that you will fly to Jackson Hole, Wyoming and give a speech that announces a new program of quantitative easing (QE3).
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Through its program of quantitative easing, the Fed bought billions upon billions of Treasury paper to suppress American mortgage rates and ease the pain of the housing bust.
Those minutes said U.S. economic conditions are improving to the point that some FOMC members think its massive asset- purchasing program (quantitative easing) may have to be changed soon.
Mounting inflation will also put pressure on Fed Chairman Ben Bernanke and his program of quantitative easing, dubbed QE2, devised to spark inflationary expectations. (Read Distressed Debt Investors Prefer Real Estate in 2011).
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In overnight news, Philadelphia Federal Reserve Bank President Charles Plosser said in a speech in Tokyo the Fed should start winding down its bond-buying program (quantitative easing) and be completely done with it by the end of the year.
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With gross domestic product still 3% below its peak, growth flat over the past year and the economy having under-performed even the euro zone over the past five years despite the benefits of a substantial devaluation and a massive program of quantitative easing, many believe that BOE obstinacy has held back the recovery.
Quantitative easing is a bond-buying program to lower long-term interest rates.
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