Gold Gains on Euro, British Pound, and Swiss Franc

Probably one of the most important metrics of gold's strength is its movement against currencies, and the last week it moved up strongly against the Euro, British Pound, and Swiss Franc.

Against euros it gained 2.0 percent; against the British pound, 1.7 percent; and against the Swiss franc, 1.3 percent. Gold did fall against the Japanese yen by 0.3 percent.

The euro fell against the U.S. dollar, dropping from $1.3169 to $1.2982, a loss of 1.1 percent.

Spot settlements for COMEX gold ended at $1,215, while averaging $1,203.