Day 2: Bernanke Back On Hold

In day 2 of Bernanke's Q&A with Congress he has decided to take a far more cautious tone. After watching gold rise yesterday to new record highs and silver move up 9% in 24 hours, he hit the market today with the following quote:

"The Fed is not prepared to take action at this point."

All markets sold off after the statement; including gold and silver.  While I usually do not follow the day to day market moves here on this site, Bernanke's decision on when to begin the next round of quantitative easing is massive news, and it must be tracked closely in order to make investment decisions.