Gold plunges as Bernanke gives no hint of stimulus

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    Gold plunges as Bernanke gives no hint of stimulus - BusinessWeek

    The price of gold fell sharply Thursday after Federal Reserve Chairman Ben Bernanke indicated that no new economic stimulus measures were imminent.

    Gold tends to fall when traders expect the value of the dollar to rise, which is a likely outcome if the Fed doesn't extend its bond-buying program or take other steps intended to keep interest rates extremely low.

    With a stronger dollar more likely, gold fell. Gold futures fell $46.20 an ounce, the most since early April, to $1,588 an ounce.
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    Last edited: Jun 7, 2012

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