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The big news this week was Wednesday’s Federal Open Market Committee (FOMC) meeting where they lowered the FED’s benchmark interest rate one-half percent (50 basis points).
According to industry veteran David Rosenberg, who was interviewed on Market Watch after the announcement, this rate reduction indicates a recession is on the horizon which will lead to a lower US Dollar and higher gold prices. Something here at Advisor Metals we have been blogging about for weeks!
The initial stock market reaction was positive then turned negative. Similar to precious metals. However, on Thursday morning the sentiment reversed with gold and silver up strongly and the equity indices up strongly too. This last happened when…Donald Trump was President! Are the powers that be telling us something?
Until next time…
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