Did someone cut the fed rate by a full half point

NumbersUsacom

Is it true, if so What does this do for Gold.

looks like cheaper money, not good for the dollar, inflationary in long run, so seems would be good for
gold, but gold and silver did not respond positively at least for the moment.

How about those gold stocks today!

Placid

Yes there was a global 1/2 percent cut except for Japan or some other countries that already were so low they couldnt cut more.

Since it is a global cut it probably wont have much effect on pm prices.

I wish they would stop doing things for at least a month and see what effect things they have done actually do.
Seems like every day they are changing things and if they dont see a immediate response they do something else.

HonoluluDude

<< <i> looks like cheaper money, not good for the dollar, inflationary in long run, so seems would be good for gold, but gold and silver did not respond positively at least for the moment. >>

What ticker are you looking at? Kitco? Gold's been up between $20-$30 for most of the day.

NumbersUsacom

I use Barcharts.com futures nearest contract.

What I mean is gold was up, actually gapped up to 900.00 on the hourly but both gold and silver since the cut announcement hasnt
responded positively and silver is quite a bit down from its day high -so far.