15
March
Gold's cross-currency strength signals its evolution
15 March 2010 Reuters
Gold's rally to record highs in euro and sterling terms and the resilience of spot prices in the face of a rising dollar is sign-posting the metal's broadening insurance appeal, as sovereign debt fears shift to the fore.
Worries over Greece's fiscal outlook created a perfect storm for euro-priced gold this month, as some investors selling the single currency chose bullion as an alternative.
News that the next UK general election could result in a hung parliament, making it harder for an incoming government to tackle Britain's debt, sparked a similar rally in sterling gold , taking it to a record 759.86 pounds an ounce.
