Wikinvest Wire

The Kitco gold index

Monday, October 19, 2009

The folks at Kitco recently began publishing the Kitco Gold Index that prices gold using the same currency weightings as the U.S. Dollar Index - 57.6% Euro, 13.6% Japanese Yen, 11.9% U.K. Pound, 9.1% Canadian Dollar, 4.2% Swedish Krona, and 3.6% Swiss Franc.
IMAGE It should come as no surprise that, in these terms, the gold price is now almost ten percent below the all-time high reached in February. Recall that, earlier in the year, gold was making new all-time highs in many different currencies around the world while it never really threatened $1,000 an ounce in the U.S.


Anonymous said...

Yes, it's much more about the dollar than about gold. At least so far.....

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