With global inflation surging well above forecasts, central banks start to acknowledge that the situation may not be as tame as they initially thought. Ongoing supply system shocks after several Chinese ports went into lockdown mode following Covid-19 outbreaks of the Delta variant add to a global system already in distress. It adds to other sectors experiencing shortages and adds to inflationary pressures.
Central banks, especially the US Federal Reserve and the European Central Bank, continue to flood the financial system with inflation due to their obsessive money printing. Many point to the rise in inflation as transitory, related to last year's economic lockdowns, but the data is above the most pessimistic forecasts. A few economists acknowledge that inflation may persist, adding a bullish catalyst to gold and silver. Falling US treasury yields also force a reallocation of capital.
Can bulls capitalize on the improving technical picture and force gold into its horizontal resistance areas?
Central banks, especially the US Federal Reserve and the European Central Bank, continue to flood the financial system with inflation due to their obsessive money printing. Many point to the rise in inflation as transitory, related to last year's economic lockdowns, but the data is above the most pessimistic forecasts. A few economists acknowledge that inflation may persist, adding a bullish catalyst to gold and silver. Falling US treasury yields also force a reallocation of capital.
Can bulls capitalize on the improving technical picture and force gold into its horizontal resistance areas?
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