As we have already reported, Janet Yellen testified two days ago to the Senate Banking Committee. Yesterday the Fed’s chair submitted identical remarks to the Committee on Financial Services, U.S. House of Representatives. What we want to analyze today are, thus, her question-and-answer sessions from these two days and their implications for the gold market.

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Janet Yellen's, the Federal Reserve chair, testified yesterday to the Senate Banking Committee. Is there anything new in her remarks? What do they mean for the gold market?

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Investors await the U.S. Federal Reserve chair Janet Yellen's semi-annual testimony to the Senate Banking Committee and House Financial Services Committee, which is expected to reflect the recent Fed's minutes or be a bit more hawkish. This statement noted a slowdown of growth in China "as a factor restraining economic expansion in a number of countries." Therefore, the situation in China is worth analyzing for a while, before we know the content of the testimony. What are the implications of the Chinese slowdown for the global economy and the gold market?

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As we believed, Greece and its creditors (EU, IMF and ECB) have finally reached a deal to extend the bailout program. What does it change in the Greek drama and what are the implications for the gold market?

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We wrote yesterday that the Fed might keep low interest rates near zero for longer than investors commonly believe due to the inflation rate below the target. Information from the passing week could strengthen the Fed’s undecided stance (“I want, but I am afraid”), which would be supportive for gold prices.

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