Gold is currently almost 7% below the peak reached in lateDecember, and the broad variations registered at the beginning ofthis year have certainly caused a headache to investors lured bythe precious metal's spectacular increases of the passed years.
A gram of gold at the end of last week was worth 137 RON at theNBR exchange, against the 147 RON all-time high reached in lateDecember. However, the past week has seen gold prices rally fromthe 131 RON/gram registered in the first week of February.
The steep decline of the start of the year contrasts with the40% leap gold prices took in 2010, after having climbed by over 30%in 2009.
"Gold prices revolved around 1,360 dollars per ounce, beinginfluenced on the one hand by uncertainty about Egypt, whichsupports the precious metal's price, and on the other hand by thestrengthening of the US dollar, by the positive values of economicindicators and the low buying interest, hurting it," Piraeus Bankanalysts noted at the end of last week.
While many analysts see in the skyrocketing gold prices a"speculative bubble", there are also voices pointing to potentialfor future increases.
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