While the gold price has managed a 1.1% gain in U.S. dollar terms in February, it has performed considerably better against most other fiat currencies.

The movement in the euro has generated the most attention in recent months, at it has tumbled from over 1.51 against the dollar in early December to its current exchange rate near 1.355. The decline in the euro has come on the heels of sovereign debt concerns across Europe. In terms of the euro, the price of gold reached a new all-time high of 828 per ounce on February 19 and has risen 3.2% this month.

In terms of the British pound, the gold price has advanced 3.3% in February as heightened concerns over the size of England’s budget deficit have risen.

However, the gold price has experienced modest declines of 0.6% and 0.9% against the Canadian dollar and Japanese yen, respectively.