Whiteflash-Diamond Playground

From Rapaport - As expected - the Federal Reserve in the United States lowered its benchmark interest rate one quarter point to 4.50 percent, and as expected gold rose on the cut (so did oil to a new record of $95 a barrel.) Gold touched $800.80 an ounce for December delivery on the on the New York Mercantile Exchange. The dollar lost further ground against the EURO (EUR1 = $1.456) and other currencies, but the Fed rate cut was good news on Wall Street. The Dow Jones Industrial Average gained 1 percent to close at 13,930.01. Gold hit $875 an ounce in January 1980, but adjusted for inflation that same amount today would be equal to $2,000 an ounce.