Gold Spikes As QEeen Yellen Mentions Fed's Tools (Then Slides As She Warns "QE Can't Go On Forever")

UPDATE: Gold is slipping back as Yellen notes:

• *YELLEN SAYS QE `CANNOT CONTINUE FOREVER'
• *YELLEN SAYS FED TAKES RISKS OF QE `VERY SERIOUSLY'

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Yesterday was equity markets turn to get all exuberant over Yellen's promises. Today, it is the reality that she will do whatever it takes and her mention of data-dependence and ongoing use of Fed tools that is sending gold (and silver) higher.

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