Bombshell Letter To Fed: Lawmakers Urge 75 Bps Cut This Week, Will Powell Cave?

Gary Wagner, Editor of The Gold Forecast.com, discusses expectations for a Fed rate cut this week, as well as his gold price outlook. *This video was recorded on September 16, 2024 

0:00 - Market performance recap 

1:05 - Odds of a 50 bps rate cut 

4:20 - Letter urging 75 bps rate cut 

11:35 - State of economy 

13:49 - Market reaction to rate cut 

15:31 - Fed pivot and gold price 

16:42 - $3,000 gold price timeline 

18:50 - Bearish case for gold 

21:45 - Gold vs. S&P 500 

26:15 - Elliott Wave count for gold 

28:45 - Last major gold bear cycle vs. now 

31:15 - Gold vs. U.S. dollar