The price of gold is currently around 7% lower than the historichigh reached at the end of December, with the major fluctuationsrecorded at the beginning of this year being troublesome forinvestors who let themselves be mesmerised by the spectacular risesrecorded in previous years.
One gramme of gold was yesterday worth nearly 138 lei at the NBR(central bank) exchange rate, compared with a historic high of 147lei, reached on December 29th of 2010. The last few days have,however, brought a slight rebound in the price of gold, which hadfallen to 131 lei/gramme in the first week of February.
The abrupt decline recorded at the beginning of this year is instark contrast with the 40% leap in the price of gold recorded in2010, after in 2009 it had climbed by over 30%. A poll conductedlast week by international news agency Bloomberg showed that fiveof the analysts who accurately predicted the trend of the price ofgold in the last two years expect a further 20% growth for2011.
Gold is considered a safe haven asset that investors turn to inorder to be protected either from high inflation or from financialmarket turmoil.
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