The Gold Price and the Fed’s “No Taper”

This is about all you need to know about how precious metals markets are reacting to word that the Federal Reserve will not reduce its $85 billion per month money printing effort, likely waiting until December or perhaps even sometime in 2014, 2015, or later to take that very first step toward reining in their stimulus effort.

There weren’t too many pundits who predicted no action today. Jim Grant was one and, if memory serves, Marc Faber and Jim Rogers were both adamant about the Fed not being willing to take their foot off the gas at this time, not even just a little bit.

After watching about 15 minutes of the Bernanke press conference, it became difficult to keep my eyes open, so, any gems that were offered up will have to come from elsewhere.

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