The cut was taken, and hesitation was obvious, a 75 basis points disappointed investors' yet it took a reverse action, we all expected if the feds cut with less than 100 basis points markets will head to the down side, but surprisingly investors' took it positively heading more to the US dollar, pointing to us that the 1% cut was not fully priced in the markets; also we can't deny another important fact that the higher than expected earning from two of the largest banks in the United States yesterday boost the US dollar, showing signs of recovery in the financial sector, plus the comments added in the statement showing that are taking into consideration the rising risk to prices stability though their main concern persists to be on the slowing growth levels.

With all that occurring in the US territory, and disappointment news from their land, pushing the shiny metal down after the data was released to the public to $977.88 per ounce levels abandoning the all time high levels and the $1000 region, to keep trading today in the early Asian session at %985.10 levels, yet its still holding on the side were at the mean time the bullion is trading around $990.35 levels.

As for the other commodity, which is pegged with the gold ingots moving proportional together; the crude oil plunged yesterday in the NY session after the US dollar surged higher against other currencies, yet still holding at $108.41 levels not far from the all time high at $111.78.