Even before the Fed's new public relations effort pushing policy accommodation, the gold market was firming up. "Money managers," says Bloomberg's Luzi-Ann Javier, "cut their bullish bets on bullion by the most since 2015 in the week ended March 14. The next day, Federal Reserve Chair Yellen reiterated that monetary policy will remain accommodative for 'some time,' easing market fears that there might be more than three rate hikes this year. Her words sparked the biggest gold rally since November."