6
May
Gold in Euros, Largest Bullion Fund Hit Peak on Refuge Demand
6 May 2010 Bloomberg.com
The price of gold in euros jumped to a record today as a slump in the currency prompted investors to buy bullion to preserve their wealth. Holdings in the biggest exchange-traded fund backed by bullion reached an all-time high.
Gold denominated in euro has advanced 20 percent this year as the 16-nation currency tumbled about 11 percent on concern that the region’s debt crisis may spread even as the European Union and International Monetary Fund agreed on a 110 billion euro ($143 billion) bailout package for Greece. It reached a record 921.2842 euros today and was last at 919.75.
http://www.bloomberg.com/apps/news?pid=20601012&sid=alO6p9t_oO1k
