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View Full Version : Platinum Price and FOMC limited rate cut



Frank
04-27-2008, 05:53 PM
This week FOMC is expected only maximum -0.25 rate cut. If this happened US$ will be bottomed out and begin to strenghthen. Also no further rate cut maybe possible. Will this send GOLD down the drain ? Will it also send Platinum and Crude Oil down ?

I am worried as I just established further long position on GOLD at $905 last Friday and several PT long position, unfirtunately I also shorted crude oil 2 weeks ago and now what I had long have gone down and what I have shorted has gone up.

Please share your view and comments and thanks in advance.

nevadagold
04-27-2008, 07:51 PM
you should have obviously gone long crude and short gold 2 weeks back. its all in hindsight of course. commodes in general are at their seasonal high points but the energy complex tends to extend well into June. The metals look weaker compared to most everything else. 900 looks like major resistance now so you could look to get BE there if there is a small zip higher. stock indexes look the best moving forward for the next few months in my view. :cool: