Another year when gold has brought over 30% profit

Gold has this week climbed to an all-time high at the NBR exchange rate, of 145 RON per gram, around 40% above the level at the beginning of the year, particularly owing to global fluctuations, with investors rushing to buy the precious metal, seen as a safe haven from financial market turmoil.

This is the second year in a row when gold prices advance at paces of above 30%, hard to match by other investments. Those who at the beginning of the year expected economic rebound, globally, to be slow and further bet on “safe haven” assets, such as gold, made the right bet.
However, bankers are looking at gold investments with caution. Sepp Maier, a partner with Bank Gutmann, the biggest bank specialising in the management of private wealth in Austria, with an office in Bucharest as well, said in an interview with ZF that he did not recommend clients to bet on gold. He believes gold must be seen as an “insurance policy” against the risk of high inflation and not as a speculation tool.
The rising interest of domestic investors in gold is also seen in the success of the NBR’s numismatic issues.