The news that is driving the markets higher is the steep fall in housing prices. There was something out yesterday, and it was confirmed, in spades, by today's release of the Case-Shiller housing price index.
If anything, the rate of fall of housing prices is STEEPENING!!!!!!
So they MUST cut rates, and not by a little, but a lot, probably 75 basis points at the next fed meet, in three weeks!!!! IMHO, pipe
I'm watching less news in recent days. I suppose I realized that gold will go where they will go no matter what the people on TV are saying, and I don't like listening to their blah-blah's that seems to distract from facing up to this fact.
I tune in periodically just to catch spot news, but no longer keep tuned to CNBC, etc. I watch my computer trading station, and watch a nice movie while I keep my eye on my 4 computer screens full of market data - lol.
Great day for gold stocks! Looks like we might break new high very soon.