At the end of last month, the price of gold was able to overcome the psychologically important level of $ 1,400 per ounce. In euro, the value of the yellow precious metal also showed a significant increase.
One ounce of gold was trading at around 1,230 euros, which is 11% less than the record value of 1,382 euros, which was reached on October 1, 2012. It is also worth saying that the record value of 2011-2012 is in most currencies of the world. still not reached.
However, the current rise in gold prices in many currencies of the world is close to record levels of previous years. For example, in the past months, the cost of precious metals was able to repeat the record mark in countries such as Argentina, Australia, Brazil and Sweden. But in other countries, the price of gold is at maximum levels, for example, in Canada, India, Mexico, South Africa, Turkey and Uruguay. In Russia and Hungary, the precious metal is almost close to its maximum value.
The rise in gold prices in the respective national currencies indicates a weakening of these currencies. What immediately catches the eye is the rising cost of gold in the countries of the former USSR, as well as in Africa, South America, South Asia and Scandinavia. The cost of gold in the island countries and in developed countries is very close to a new record. It is possible that in the near future it will be overcome.