U.S. Dollar Slides on Bernanke Testimony, Gold Rebounds

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DG365FD46564GFH654FU898 The U.S. dollar turned lower and gold futures rebounded after Federal Reserve Chairman Ben Bernanke testified on the outlook for the economy before the Senate Budget Committee Tuesday morning. There, Bernanke provided the identical testimony as he gave last week to the House of Representatives Budget Committee, which GoldAlert discussed at that time. More importantly for today, however, was the fact that the Fed Chairman did not comment on last Friday’s better than expected non-farm payroll report – which was announced after last week’s testimony.