$Gold Futures(JUN5) (GCmain.US)$ what is the cause for the d...

Wenhao95 : Could be the news on china not buying gold.

10baggerbamm : China didn't buy any gold in September but the bigger reason for the drop was the jobs report that came out last week this resulted in all these bobbleheads on TV thinking that the fed's not going to cut 50 basis points at the next meeting because the economy is growing 3% GDP. well chairman Powell said it's going to be a quarter quarter a total of 50 basis points between now and the end of the year of course he qualified it saying data dependent but we all know the FED is in an easing mode right now they cannot keep rates high because the cost of The debt service will bankrupt the United States we're accumulating a trillion plus dollars every 90 days at this point so rates have to come down if for no other reason then debt service..
gold will have a 15 to $20 up day in the near future I know we have economic data coming out tomorrow. I don't know if that'll be the catalyst or not but it will have some Gap up in the morning and then it's buy gold look for another $2,700 plus all-time high and people will be pushing every Gold stock out there.