Fed's Bernanke says that nobody really understands gold prices

The Federal Reserve's Ben Bernanke has said that "nobody really understands gold prices and I don't pretend to understand them either" when asked by a member of Congress about the recent fall in the price tag of the precious metal.

Bernanke said that a fall in the price of gold is not necessarily a thing, as "gold is an unusual asset, held as disaster insurance" and as such the decline is likely a result of investor fears about extreme outcomes waning.