Gold prices moved higher this morning in anticipation of Fed Chairman Bernanke’s testimony today before the Joint Economic Committee.
Recent speeches by other Fed officials in the past few days suggest the Fed will leave the door open to stepped-up quantitative easing should the economy falters or if inflation remains below target.
Any talk of more QE from Bernanke this morning could give gold enough juice to re-test overhead resistance around $1400 . . . and possibly move higher.
See my recent posts on NicholsOnGold.com for more on Fed policy and the economy.