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 +1.05%) and the gold miners -- including Barrick Gold (ABX +2.49%), Newmont Mining (NEM +1.46%), and Gold Fields (GFI 0.92%) -- 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.