Traders explained the strong recovery with a weakness of the U.S. Dollar. In the week before the turn of the year, the price of the precious metal had temporarily slipped to 1520 dollars. Despite the setback at the end of 2011, there is still strong interest in the international financial markets, experts say.
The gold price last reached a record high of 1920 dollars at the beginning of september 2011, but then came under heavy selling pressure. In recent forecasts, most experts expect the gold price to rise again moderately during the rest of the year.
However, there was already disappointing news for investors in the gold market at the beginning of the year, according to a commentary by commerzbank. According to an industry association in india, the emerging emerging market imported only 125 tons of gold in the fourth quarter of last year. As recently as november, the world’s leading industry association, the world gold council, assumed in a study that imports would total 281 metric tons.