Gold in Euros Surges As ECB Print Trillion Euros and ‘Grexit’ Election Sunday
By: GoldCore
GoldSeek.com
Friday, 23 January 2015
Stocks, bonds and precious metals surged yesterday as markets cheered the latest wave of money printing on a grand scale.
Gold surged 3 per cent in euro terms (see chart below) after Mario Draghi in the ECB announced a massive quantitative easing or QE programme of over EUR 1 trillion from March 2015 to September 2016.
The QE programme is even larger than expected at €60 billion every month rather than the €50 billion that had been expected. The euro fell another 0.9 per cent against the dollar to an 11-year low and has shed another 1% versus the Swiss franc. Gold was nearly 1% higher in dollar and sterling terms also.
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