Now the question is how big a rate cut we will see in September. If US data continues to be soft then we can expect a bigger rate cut, and likely a strong reaction from gold.
Mining is a tough business that is fraught with risks. Even when the value of a mine’s end product goes up, the costs of getting it out of the ground can go up even faster.
All I can say is that, with what we know about retail bankruptcies this year, it is particularly hard to believe last quarter surged due to robust consumers. It just doesn’t add up.
The determination in all these nations to fight it out right now is too strong, and none of the sides involved anywhere appear at all willing to concede anything…even without the US.
Indian gold demand has picked up in 2024, despite record high prices. It got a shot in the arm in July when the Indian government cut taxes on gold and silver imports by more than half.
Economist David Rosenberg, who predicted the 2008 financial collapse, said that the 818,000 adjustment in new jobs signify an economy that is in a worse meltdown than the Fed realizes.
