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The Federal Book surprised the markets with an emergency 50 basis-point cut on Tuesday. Gold rose however the Dow Jones Industrial Average still sold.
CPM Team's managing companion Jeffrey Christian chats gold's reaction to the action and also what it could imply for rates going forward. "The Fed met the expectations of the marketplace due to the fact that partly it needed to," Christian told Kitco Information on the sidelines of the PDAC. "We have actually seen gold and silver costs rise greatly yet they are within the band of what we've seen over the recently. We believe that it is most likely a single spike."
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Gold is surging after emergency Fed cut, but is it a ‘one-time spike’?
The Federal Reserve surprised the markets with an emergency 50 basis-point cut on Tuesday. Gold surged but the Dow Jones Industrial Average still sold off.
CPM Group’s managing partner Jeffrey Christian talks gold’s reaction to the move and what it could mean for prices going forward. “The Fed lived up to the expectations of the market because partly it had to,” Christian told Kitco News on the sidelines of the PDAC. “We’ve seen gold and silver prices rise sharply but they are within the band of what we’ve seen over the last week. We think that it is probably a one-time spike.”
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Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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