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15/09/24
11:13
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Originally posted by AverageJoe:
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Just starting the gold crank up I reckon. From the last NFP, CPI, PMI and more minor data, none that I can see suggest there should be a 25bps cut let alone the 50% now of a 50! With a 50 cut, I'm worried of the impact on commodities across the board. Bond or stock traders are correct? Gold price action yesterday suggest a fresh impetus breakout. If so, there will be a pullback or just momentum buy and jump off on any weakness. Short now and you suffer dwarfism!
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Maybe, but looking at trader positions, it is pretty much the hedge funds that are buying and the producers that are selling. I'm just going with the producers.