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Gold Market Unaffected by Federal Reserve as Currencies Grab Limelight

Gold prices are gaining Wednesday but it is huge swings in global currencies that are influencing the market, says ETF Securities U.S. Research Director Mike McGlone.
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Gold prices are gaining Wednesday but it is huge swings in global currencies that are influencing the market, ETF Securities U.S. Research Director Mike McGlone tells TheStreet's Joe Deaux. Federal Reserve policy has strongly swayed gold in recent months but McGlone says that isn't the case right now. McGlone says the correction in U.S. equities has built support for the yellow metal and gold could see more stability in the coming weeks.

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