Gold in dollars and in your own currency: what reaches the investor
Exchange rate matrix: how the gold price in US dollars and the exchange rate to the investor’s own currency combine, and what follows from that for the local gold price.
Gold in EUR vs. US dollars: what reaches the investor
The gold price is set in US dollars. What counts for an investor in EUR, though, is the price in EUR — and that depends on two forces: the gold price in dollars and the EUR-dollar rate. The two can reinforce or offset one another.
(USD stronger)
(USD weaker)
Schematic illustration of the interaction. This is why the gold price in EUR can rise while it falls in dollars — and the other way round. The size of the effect depends on how far the exchange rate moves.
Where the numbers come from
This chart explains a relationship and contains no continuously changing figures.
Switching to Chart above shows the rendering directly in your browser. The Image version — including the one for sharing and downloading — is a still image generated nightly at 02:30. Last generated on 09/11/2026 at 03:06.
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