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, 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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