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.
