The price of gold in euros recently approached its historical maximum, for the repetition of which there was not enough just 5% growth. What will happen to gold if a crisis begins in Europe?

The increase in the price of gold in euros became possible due to an increase in the international cost of precious metals in dollars, as well as a depreciation of the European currency. Last week, the price of gold overcame the mark of 1300 euros, which happened for the first time since December 2012. Only 5% growth was not enough to the historical maximum. It is € 1,381 per ounce based on COMEX Commodity Futures.

It is worth recalling that in 2012, European politicians fought to save the Eurozone from collapse. ECB President Mario Draghi said then that he would do everything possible to maintain a single European currency. At the same time, he asked to be trusted. His words calmed the financial markets. After that, the ECB bought back securities worth 2 trillion. euro and lowered interest rates to zero.