It looked as if news of a potential slowdown in the Federal Reserve's quantitative easing program was going to spook Wall Street into a major stock market correction, but a downward revision in GDP growth seems to have assuaged those fears. Unfortunately for the gold bugs, both the SPDR Gold Trust (NYSEMKT: GLD ) and the gold miners -- including Barrick Gold (NYSE: ABX ) , Newmont Mining (NYSE: NEM ) , and Gold Fields (NYSE: GFI ) -- got hammered on the GDP news.
In the following video, Fool.com contributor Doug Ehrman discusses recent developments in the precious-metals markets and what direction things are likely to go from here.
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