With all this liquidity being pumped into the system, Europeans must now also deal with potential overheating in those parts of Europe in less need of stimulus. With all this uncertainty over the Euro, it is not a surprise that gold has spiked to a record high in Euros (the chart below is an estimate of this figure using GLD [gold ETF] and FXE [Euro ETF] as approximations - multiply by 100 to get an approximation of Gold in Euros).
Source: Eurostat
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