No it isn't. Try installing a recording studio in the 38 floor of the Sears Tower (or as it was called then) Hmm, or shall I say HUM. There is no such thing as ground. The higher you went, the greater potential you are from earth ground. Any current flow coming from the rest of the building caused the ground to significantly drift.
The trick with grounding is to find only a SINGLE PATH. If the tank is grounded through another source such as a separate grounding terminal, and the gauge is grounded to another source, such as the meter case, you don't want to connect a signal ground between the two. In that case, you would "float" the signal ground, because there is already a ground connection through the case or terminal. This is the common definition of the term "floating ground". The floating part refers to the signal ground, because it is floating, and depending on the case to actually supply the needed ground connection. So Gunni, if your meter does not have any connection to the case, or your tank has no other terminal for ground, then you would connect the signal ground.
Incidentally term "floating ground" does not mean there is no connection to earth ground. It just means the signal ground is floating, because it is using an alternate source for grounding, such as earth ground. So if you are using a floating ground, that really means the real ground you are using is true earth ground. (not signal wire ground)