As predicted in (Gold Price to Increase on Serious Euro Concerns) posted in the the Gold Price News on the 14th of April 2005, the gold price in Euros has broken out since the French voted no to the Euro constitution.
The Euro gold price closed at $345.76 on on Friday the 3rd of June, a price not seen since the 11th of November 2004, when the price of gold in Euros was 343.221. The gold price was trading near $460 in U.S. Dollars at the time.
"The next resistance for gold in Euros is the April 2004 high at 347.446. If gold can breach that level in a convincing fashion, the major high near 351.50 is within reach. That is a big, big deal if that level can be broken." said Bill Murphy of Letropolcafe.com
James Turk of GoldMoney.com said "Is gold about to experience a cascading series of breakouts against the major currencies? It is possible, and the strength that we are seeing in gold’s price against other currencies – most notably the euro – is very encouraging, bullish news." James provides more charts and commentary on the break out of gold in rand and pounds here.
Historical Euro Gold Price Charts
1 year Euro Gold Price in grams
5 year Euro Gold Price in grams
10 year Euro Gold Price in grams
The charts above are from GoldMoney.com where
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