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BERNANKE POSITIVE ON U.S., NO MENTION OF QE, NEGATIVE FOR GOLD AND SILVER

In the prepared text Bernanke is positive on the U.S. and does not mention QE.  Unless he mentions QE in the question answer session, this is negative for gold and silver.

CHANGE IN GOLD AND SILVER BIAS

Gold and silver bias is now changed from positive to neutral in the very, very, short-term and negative in the very, short-term.  This does not affect arbitrage trades but those trading gold and silver naked may take notice.

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