ECB MEETING ON THURSDAY COULD IGNITE GOLD, SILVER
A potential game changer for gold, silver, euro, and yen is just ahead. The game changer is the meeting of the European Central Bank (ECB).
Traditionally the ECB has towed the line of the Bundesbank inflation hawks.
Jean-Claude Trichet, the chief of ECB until 2011, kept monetary policy tight and interest rates high even though Europe was melting down and he had an example across the Atlantic of Chairman Ben Bernanke of the Federal Reserve dramatically easing monetary policy.
Mario Draghi, the former governor of the Bank of Italy, followed Trichet as the president of the ECB. Under Draghi, monetary policy has been more accommodative but interest rates have stayed relatively high.… Please click here or the title below to read more.
July 3, 2012