In a period were precious metals are reacting favorably (hasn’t always been the case) to rate cuts… time to see how rate cut cycles have usually played out. We have been in an easing super-cycle since 1981! If we get a sideways move pause in the rate cycle, like in late 1990’s .. this could hurt gold.

Edit: Not that easing cycles last about 40 months.. so +3 years. We have just started the current one.  Slow burning fuel… should keep gold warm for a while!

Edit2:  nine times out of ten, we got a meaningful cutting cycle.. whether in bull or bear super cycle.