7
January
Gold in Euros to Outperform Gold in Dollars, ABN Says: Technical Analysis
7 January 2011 Bloomberg.com
Gold priced in euros will do better than the metal denominated in U.S. dollars this year, ABN Amro Bank NV said, citing trading patterns.
Gold in euros surged 39 percent in 2010 compared with a 30 percent increase in bullion in dollar terms, according to Bloomberg data. While both are in a short-term correction phase, gold in euros tends to be more resilient when under stress, said Wallace Ng, executive director at the bank in Hong Kong.
