Although the price of gold has been falling so far this year, many investors will still be considering whether or not they ought to be buying the precious metal.
According to Tim Drayson, senior economist at Legal & General Investment Management, those who want to protect themselves against central bank monetisation of debt and inflation could still be tempted by the commodity.
Speaking to FT Adviser, he explained the price decline of gold "does not reflect a more optimistic assessment of the world economy", adding: "The recent price declines make it even more attractive."
David Coombs, head of multi-asset at Rathbone Unit Trust Management, suggested gold's value has been harmed by comments made by European Central Bank leader Mario Draghi, who stated last summer he would do "whatever it takes" to support the euro.
Just a week or so ago, Yamana Gold's latest figures showed it achieved production of 291,312 gold equivalent ounces between January and March 2013, which was up four per cent on the same period last year.
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