Gold has bounced from close to session lows around $1206 to the $1214 in quick fashion after Bernanke expressed no anxiety over any bubble in US assets and said overseas markets are not part of his remit. He added that the Fed will not monetize the US debt.
EUR/USD is rebounding as well with fears of an inflation spiral still chief among the worries of the gold bugs.
Just crossing the wires, the JP Morgan global service sector PMI fell to 50.1 in November from 53.0 in October.
EUR/USD has rebounded to 1.5090.
