What may have been bigger news if not for the Egypt riots, Ben Bernanke gave a serious indicator today.
FED Chairman Bernanke gave a speech in front of the National Press Club essentially repeated what many of us have realized for like an eternity now in spite of all the Quantitative Easing and massive liquidity created by those programs, job growth remains anemic:
“It will be several years before the unemployment rate has returned to a more normal level,”
What does this mean for Gold & Silver?
Good question – more spending, more debt, more negative pressure on the US Dollar in the long run. Since neither Gold or Silver are attached to credit and they are Hard Assets – the outlook for higher moves is likely.