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Fed Cut Rockets Gold to 27-year High in the Futures Market

bullionmarketplace.com — The Federal Reserves interest rate cut of 50 basis points inspired investors to push the price of gold to a 27-year high in the Comex division at the New York Mercantile Exchange at 3:26pm. The last time the price was higher was February 11th, 1980. Investors fearful of a weaker dollar and inflationary pressures are using gold as a currency hedge.

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  • rawgreed, on 10/10/2007, -0/+0I've also covered the Fed Interest Rate Cut and the effect on gold investing. There are multiple articles leading up to the rate cut on my blog, http://www.rawgreed.com

    I also have a few articles with my top gold and silver stock picks.
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