Some Bullish Signs For Gold, Awaiting Yellen’s Speech: Wagner – Kitco News

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Kitco News talks to Gary Wagner about gold demand in the aftermath of the Chinese Lunar New Year and looks at what could happen to the markets given that Janet Yellen will testify, for the first time as the new Chairwoman, in front of the House Financial Services Committee Tuesday and then infront of the Senate on Wednesday. Wagner says that the end of the Lunar New Year in China may have an effect on the gold market but if it does, it will affect the markets ‘very slightly.’ Looking over at the U.S., Wagner says everyone will be closely listening to Yellen’s speech to find any clues of how she may handler her new position. “My sense is that she’s going to want everyone to see a very transparent and smooth transition from Bernanke to herself,” he says. “So, I would look for, if anything, a vote of confidence in terms of stability to be her overall theme and for her to reiterate that the Fed is on course and doing what they had planned to do.” Watch now for more on Wagner’s analysis on the gold market and what bullish signs he may be looking at. Kitco News, February 10, 2014.

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