Fred Hickey -
The European Central bank just announced it will charge banks 0.1% for parking cash overnight. That gold and silver now yield more than cash could be a spectacularly bullish propellant for the metals.We should consider that negative over-night rates, as a tool to push banks to lend, may not prove effective if applied solely in one jurisdiction, the EU, whilst capital is mobile globally. The stronger £ GBP and US$ may be some sign of EU capital movement. If these economies do not want stronger currencies we may see more central banks also set negative rates, can this be a spur to increased lending and money velocity lacking in recent years? Gold should react to this.