Gold Myth No. 2: Gold is of no interest to Euro investors
The second discountiong a series of gold myths from Erste Bank's Ronald Stoeferle in his latest Special Report on Gold.
Author: Ronald Stoeferle
Posted: Monday , 06 Jul 2009
VIENNA (Erste Bank) - That gold is not of investment interest to Euro zone investors is a myth easily thwarted by numbers and the following graph. The average performance per year since 1971 has been:
- in USD: 10.8 %
- in EUR: 9.5 %
- in GBP: 6.5 %
(click to enlarge)
The short-term charts also underline the positive development of the gold price in the most important currencies. The development of a currency basket with equal weightings of US dollar, euro, Australian dollar, yuan, Swiss franc, Indian rupee, and British pound in comparison with gold is shown in the following.
(click to enlarge)
There is little reason to believe that the downward trend will weaken in the foreseeable future, to this extent we of course stick to our positive evaluation of the gold price.
(click to enlarge)
Click here to download the full 53 page report in pdf format
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