Gold & Silver Extend Gains On Lagarde’s “Inflation Is Coming” Comments
With the dollar sliding, and following yesterday’s dovish market reaction to The Fed, ECB’s Lagarde comments on inflation (increasing its expectations for 2020 and said that Q4 2022 inflation will be at 1.7%) and noting labor costs pressures have strengthened.
Over the medium term, the inflation rate will increase, Lagarde said, adding that “the direction [rising] of inflation is good.”
Additionally, she noted The ECB’s highly accommodative stance will continue for a prolonged period until inflation rises, and said thatincoming economic and survey data point to some stabilization in the slowdown of economic growth in the euro area.
Gold and silver have erased all the post-Payrolls losses…
