Fed cuts 75bps, Gold drops $25?

They're really not coming in much. 40bp in the last week isn't much to cheer about. Better than a continued blowout I suppose.

 

The Funds rate at 2.25% makes us Japan. 100bp would've resulted in a dollar-rally. Sentiment was at an extreme. Nobody buys the dollar for the swap.

I sold EURUSD pre-Fed. It's going to 1.5500 before the week is out.

 

Any catalyst my friend.... that all I'm looking for.

 

Is there a limit down for GC on CME?

 

dont know but gold's sinking like a brick

 

My analyst phoned the exchange and got put through to 4 different people, none of them knew what limit down was, searching the web is seems to be $75 for GC. Was getting a little worried scalping around -$50

 

mid 06 repeat?

 

There is no price limit on gold.

 

I can hear the Gold Bugs squealing way up here in the mountains.

What a prison raping.

 

gold always over shoots. Risk is too crappy on the downside now. its gonna bounce pretty hefty i bet. i'm looking for euro to set a base again. probably after hours today. Gold is going to need that for a good bounce. i have no idea where it will bounce to, but it should have some good range on it.

No, i am not a gold bug, i just trade it a lot, always really short term.