Gold Hits New High in Euros and Francs

Bloomberg reported that the price of gold has set a record in euros and Swiss francs as concerns mount on central banks’ moves to bolster the economy will in fact devalue the currencies.

As quoted in the market news:

Bullion for immediate delivery in London reached 1,379.32 euros an ounce and has rallied 14 percent this year, data compiled by Bloomberg show. Gold priced in dollars rose 13 percent this year to $1,771.30 by 4:49 p.m. local time and is trading 7.8 percent below the all-time high set in September 2011. The commodity set a record 1,667.18 Swiss francs today and peaked in Indian rupees earlier this month.

Click here to read the full Bloomberg report.