Gold fetches big returns to investors, though not in Romania

The price of gold has fluctuated significantly over the last two years, thus leaving enough room for big speculations for players who keep their eyes on trends. In the autumn of 2005, the quotes of gold started rising on international markets, after the precious metal market had fallen out of grace during the last twenty years. Gold gained massive ground in the spring of last year, climbing on international markets to levels unseen since the ’80s, due to pessimistic forecasts for the dollar, and big players looking for investments with a low degree of risk. Since last summer quotes have undergone a slight correction, but even now, the price of gold remains significantly higher than at the beginning of 2005. On the local market one gram of gold climbed last year to an all-time high of 628 RON (at the exchange rate calculated by the NBR), compared with the 400 RON at the beginning of 2005. Subsequently, investors who had invested in gold at the beginning of 2005 would have now witnessed a 55% gain on their outlay. Currently, the price of gold at the NBR is over 545 RON, a 5% increase since the beginning of the year. Romania, however, does not have a regulated gold market. NBR calculates the price of gold based on international quotes.