Loading ...I checked the 10 yr note–down 18/64ths–the $ is up modestly there–so no change to account for this strength
Rallies that start for “no reason” are usually significant…at least for no DISCERNIBLE reason…
todays skirmish in the $1400 line is still ongoing…
Perhaps this is all jockeying before the FED testimony…I am looking forward to the overnite action”….
gold will rally with or with out a. rate cut….
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In fact, gold will rise in the near term whether the Fed cuts rates and ends tightening or not. As a point of reference, consider gold’s price history in tandem with the history of the Fed funds rate.
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In 2006 gold prices began an exponential rise and nearly doubled; at the same time the Fed was raising interest rates above 5%. Gold prices spiked despite higher rates and Fed tightening.
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