Gold did its job last night. Closed at A$3700. The market knows...

Gold did its job last night. Closed at A$3700. The market knows the FED will be dropping rates, so things bounced intra night. Steel and iron ore were actually up. This suggests the markets know that rate drops and stimulus are likely to follow. Crypto pretending to be a safe haven was exposed with Bitcoin being pounded 4x harder than gold. I see crypto as linked to Nasdaq more than anything.
I think gold will again go for a record high as these rate cuts kick in. We may see a .50 basis point cut out of the US if this market volatility and retracing growth numbers continue. We will still see volatility in the index’s for a little while yet. That won’t change the production profile of Bc8’ anyway. The media will tell everyone to freak out, but take what ever they say with a pinch of salt. Gold stocks remain the cheapest sector out there imo. I am staying exactly where I am. Nothing has changed for me. Dyor.