Contrasted with historic inflation/gold price patterns, further evidence of "sharply falling" global inflation provides gold and silver with ongoing fundamental cushion.

In other words, "significant" declines in UK, eurozone, and Italian inflation (Italian year-over-year producer prices declined by a startling 12.6%) directly or indirectly provide the US Fed with evidence that US inflation is also poised to fall.

While the CME Fed funds watch tool has not registered a significant increase in the probability of a March US rate cut this week, it is possible that reality is catching up with what the Feds Goolsbee earlier this week indicated was market expectations for cuts running ahead of the Fed's internal dialogue...[MORE]

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