by David Russell, Gold Seek:

It has felt like we have been talking about the Federal Reserve rate cut for months and months. Finally we have something to say about it: The Fed decided to cut rates, and they cut rates by 50 basis points. Gold responded in true form and touched another record high.

At the time of writing gold is down slightly on the back of positive jobs data in the US, but overall the picture looks very good indeed.

Of course the rate cut was no surprise to anyone. Powell was about as explicit as one could be in his Jackson Hole speech. However, how much rates would be cut was a real debate.