Gold and rates....The higher gold goes here the better as I believe that when FED does start cutting rates it is going to be a textbook buy the rumor sell the fact scenario. Everyone and their grandmother knows the next move is to cut but the period leading up to this is when the cut gets factored in. Gold will sell off after the fact. The same will happen to equities. They will sell them after the first cut since it is so telegraphed and anticipated. Shortly after the first cut I expect gold to stabilize. It would be great if we can get above $2500 US and some how settle between lets say $2400 and $2600 US after the rate cuts start. We are up $32 US at $2453 for July spot this morning.