BERNANKE TESTIFIES

U.S. Federal Reserve Chairman Ben Bernanke will testify before Congress on Thursday, a day after two influential officials in the central bank said they were prepared to take even more policy action to boost the erratic economic recovery.

Analysts will be listening to Bernanke closely for any hints that more bond buys are in store, especially after the lack of immediate aid for the troubled euro zone from the European Central Bank , which put the onus firmly on European policymakers to resolve the debt crisis.

Expectations that the ECB would take action had helped bullion rise on Wednesday. 

People have become more bullish after last Friday's employment figures. The market may be entering a new phase on the expectation that there will probably be some sort of easing..
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MCX OPERATOR
www.mcxoperator.com

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