The European Central Bank continues to maintain its current monetary policy in more good news for gold. The ECB’s stance is accommodative of higher gold prices. The most recent policy meeting, held mid-week, confirmed that the status quo would remain with the organisation confirming it would increase its bond buying activity as inflation remains below its target, and would continue to deploy loose economic policies. The ECB signalled that its policies could become looser still in the near future, which adds further fuel to gold’s price momentum. The ECB says it is targeting 2.0% inflation and won’t change course until that level is reached.
With a flurry of favourable conditions beginning to align, now is an opportune moment to make your move. Buy gold now to be in the best position to benefit as we progress further into Q3.