by Alasdair Macleod, GoldMoney:
During the week when on Wednesday the Fed cut its headline interest rate by 0.25% gold and silver had some big moves. It was the first interest rate reduction in eleven years. Gold traded in a $48 range yesterday following Wednesday’s cut, and silver endured some vicious profit-taking. From last Friday’s close, in mid-morning European trade gold was up $24 at $1437, and silver was down 25 cents at $16.14.