Monday, January 18, 2021

Tag: Since Inception the Euro Has Devalued by 85% Against Gold

Since Inception the Euro Has Devalued by 85% Against Gold

by Jan Nieuwenhuijs, Voima Gold:

On April 23, 2020, the gold price breached €51,000 euros per Kg for the first time in history. The gold price in euros has increased by 555% since the euro was created in 1999. Put differently, since inception the euro lost 85% of its value against gold.

Technically, the euro was launched on January 1, 1999, although euro notes and coins started circulating in January of 2002. The first gold price recorded in 1999 was €7,879 euros per Kg—or €7.88 euros per gram (we’ll use euros per gram as the gold price in the remainder of this article). By now, the gold price has crossed €51 euros per gram. A new all-time high.