By Jacob Harper
equities.com
Stocks closely associated with gold and gold mining were hammered on July 15 as slipping gold demand and uncertainty concerning the US Federal Reserve’s plans sank the price of the yellow metal. Gold plunged 2.3 percent on the day, representing its biggest daily trading loss for the year.
Federal Reserve Chair Janet Yellen is expected to give two key testimonials on the week, starting with the Senate Banking Committee on July 16. She will then address the House Financial Services Committee the following day. Both events should shed light on the status of the Fed’s so-called “tapering” plans.