Over the course of 2019, the price of gold cited in euro grew by roughly 22%. The yellow metal is now traded at $1,515 an ounce, which corresponds 1,352 euros. In order to break the record set in September 2019, an increase of only 4% is required.
This means that last year, gold has shown its highest returns on investment (ROI) since 2010 -back then, it yielded +37%, and one ounce was priced at 1,055 euros. The recent price hike indicates that the European currency is losing its purchasing power – in short, it's experiencing devaluation.
Below is a list of currencies relative to which gold has rallied in 2019:
Euro: +22%
Indian Rupee: +21%
Chinese Yuan: +20%
Australian Dollar: +19%
USD: +18%
Japanese Yen: +18%
Swiss Franc: +17%
GBP: +15%
Canadian Dollar: +13%
As for silver, it showed an overall growth of 20% relative to the euro – also higher than the relative to other currencies.
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