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TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold and silver prices rebounded sharply on Tuesday, with gold climbing to $1,309.08 an ounce and silver surging to $20.06 an ounce as the dollar plunged 0.5 percent against a basket of major currencies when tensions flared again in Ukraine. The euro strengthened after European Central Bank (ECB) President Mario Draghi resisted taking any policy action on Thursday to curb the falling inflation rate in the euro zone.
 
Draghi resisted cutting record low interest rates further or starting a bond buying program, even after being prodded by International Monetary Fund (IMF) Director Christine Lagarde that more monetary easing, including through unconventional measures, is needed in the euro area. "The euro and the yen are strong against the dollar today and that is giving a boost to the gold price," said Bernard Sin of MKS SA.
 
Both Lagarde and Draghi, have expressed their concerns in the past that the euro zone may be facing disinflation (a declining rate of inflation) with a growing risk that it could develop into full blown deflation. The IMF has begun calling this environment “lowflation.”
 
Peter Schiff, of Euro Pacific Capital, says that with all the currency being printed by global central banks, inflation is certain to reappear and when it does gold will rebound with a vengeance. "Central banks around the world, particularly the U.S., are going to continue to create more and more inflation," said Schiff on Newsmax TV. "In fact, now the central bankers don't even pretend they're fighting inflation. They are fighting to create inflation. They're telling us that inflation is a good thing, that the absence of inflation is a problem that the Fed has to solve."
 
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