Gold edged off since its rally after the U.S. Federal Reserve decided to maintain its current stimulus program. The yellow metal added nearly 3% for the week and is on track for its biggest gain in five weeks. Gold bullion rallied 4.1% on September 18th after the Fed cited it needed to see more examples of economic recovery before it reduces the $85 billion-a-month of bond buying.
Bernanke clearly stressed that the quantitative easing program was "not on a preset course". The "no tapering" was a surprise to the market as bullion fell almost 20% this year in anticipation of a wind down in bond buying, but it has now gained from technical buying and short covering since the news.
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