Friday, April 9, 2010

Chart of the day is...

....gold year to date, in US Dollars and in Euros.

Year to April 6th is shown here. If we get bang up to date, gold in USD right now stands at 1,157/oz and gold in Euros at 863/oz. This means that year-to-date, gold has risen 3.5% in US Dollar terms and 11.3% in Euro terms.

Meanwhile, the Euro has sunk 11.9% versus the dollar in the same period (from USD=EUR0.67 to USD1=EUR0.75)

The conclusion: In 2010 gold is still lagging pricewise in Euros compared to the USD, but only slightly. In general terms gold is displaying its normal tendency of neutrality to currencies, which is exactly what we should expect from it.