Gold Price Surges to Historical High for Second Consecutive Day

Gold prices reached a historical high in Bucharest for a second consecutive trading day on Monday, on the background of international prices reaching their highest levels in the past seven years due to rising geopolitical tensions, according to analysts.

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Romania’s central bank set the price for one gram of gold on Monday at RON216.2917, after it had registered a historical high of 213.7734 on Friday.

“It is the same trend as in international markets. The differences compared with 2012, when the gold reached another historical high, is that the dollar is way stronger than the leu. When we are talking about gold exchange rates, the dollar counts allot because gold is sold and bought in dollars and then it depends on how strong the leu is towards the dollar, and the leu has continued to lose ground, not only towards the dollar, but also towards the euro,” XTB Romania chief analyst Claudiu Cazacu told MEDIAFAX.

International gold prices reached their highest levels in seven years on Monday, due to rising geopolitical tensions between Iran and the United States.

Romania’s national currency also recovered slightly against the euro on Monday, with an exchange rate of 4.7760/unit, compared with the 4.7789 registered last Friday.

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