Will GDP Data Save Metals From the Fed?

By Doug Ehrman – Jun 30, 2013 at 10:10PM

NYSE: GOLD

Barrick Gold

Market Cap

$29B

Today's Change

(1.95%) $0.32

Current Price

$16.74

Price as of April 23, 2024, 10:28 a.m. ET

The precious-metals markets have been getting pounded, but will slower-than-expected growth reverse the trend?

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 (GLD -0.20%) and the gold miners -- including Barrick Gold (GOLD 1.95%), Newmont Mining (NEM 0.23%), and Gold Fields (GFI 0.30%) -- 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. 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.