MarketsInsider/Amanda Cooper/7-13-2022
“The euro has lost around 12% in value against the dollar already this year, in part because of an expectation for the Federal Reserve to raise US rates more quickly than the European Central Bank will raise eurozone rates, even though both are racing to contain surging inflationary pressures.”
USAGOLD note: Europe is reeling from runaway prices, the prospect of severe energy shortages and a recumbent central bank. Gold demand in Europe has been strong and it is on the rise. Gold is up 8% year to day in the euro and 13% over the past year.
Gold price in euros
(%, one-year)
Chart courtesy of TradingView.com
