from Kitco NEWS
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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