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.

Fool contributor Doug Ehrman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.