After buying the Fed rate cut rumor, gold traders sell the news | Metals Mine

  • After buying the Fed rate cut rumor, gold traders sell the news

    From kitco.com

    As widely expected, the Federal Reserve announced a 25-basis point rate cut Wednesday, marking the central bank's first Fed Fund interest rate reduction since December 2024. Fed Chairman Jerome Powell called the decision a “risk-management cut,” signaling that the central bank was moving to prop up the faltering labor market but was still trying to tame inflation. Following the announcement, the U.S. Dollar traded with a firmer tone across the board, while both gold and silver "sold the news" of an expected outcome of the Federal Open Market Committee (FOMC) meeting. During the press conference following ... (full story)

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