Euro Gold Prices Have Second-Best Weekly Close in Two-Year High

Shanghai Metals Market reported that euro gold prices had their second-best weekly close in two years on Friday, rising 3.9 percent prior to Easter weekend as the single currency sank and spot gold jumped back above $1200 per ounce in dollar terms.

As quoted in the market news:

The pan-European FTSE Eurofirst 300 index of listed stocks today rose for a ninth consecutive week to join the Japanese Nikkei in touching fresh 15 year highs.

Gold priced in Euros touched EU1,140 as the single currency fell below $1.06 – better than halving its 38 percent plunge of September 2012 to New Year 2014.

Central banks worldwide last year cut their Euro holdings to just 22 percentof global FX reserves, new data from the International Monetary Fund said Friday, down from 28 percent a half-decade ago – before the currency zone’s debt crisis.

Surging bond prices today pushed yields on 8-year German Bund briefly below zero, while the Dax index of German stocks has now risen 6.6 percent since the European Central Bank began its EU60 billion-per-month quantitative easing asset purchases this time in March – but that gain drops below 4 percent in US Dollar terms.

Euro gold prices have risen 5.5 percent.