In this report, I cover the early market action from London on Thursday, September 19th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I will go over the Fed's decision to cut rates yesterday and how the markets reacted to it and also look at what Fed chairman Powell said in his press conference after the decision.
My focus of today will be to look at some key technical levels for both gold and silver and how they have held recently. My conclusion for the day is that even though I have traded gold and silver in the past I think the precious metals should be held for the long haul and as insurance versus paper money debasement.
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