The price of gold reached a new record level in Romania. The yellow metal has registered an important increase these days. Here is the latest announcement from the National Bank of Romania (BNR).
The price of gold registered a new increase. The latest data were provided by the BNR
Gold registers a new historical high in Romanian quotations. The price of gold registered another rise on Thursday. More precisely, it reached the amount of 327.8351 lei per gram, compared to 323.4240 lei recorded in the previous meeting, thus marking another historical high.
On March 22, 2024, one gram of gold reached the value of 320.4267 lei. On March 25, it was worth 320.4858 lei. On March 26, 2024, one gram of gold cost 323.0934 lei.
At the same time, the national currency suffered a depreciation, on Thursday, March 28, against the euro, which was set by the National Bank of Romania (BNR) at 4.9730 lei. There was an increase of 0.20 money (0.04%) compared to the previous quote of 4.9710 lei.
The leu registered a decrease against the dollar, with the American currency quoted at 4.6085 lei, up by 1.93 bani (+ 0.42%) compared to the previous day, when it had a value of 4.5892 lei.
In addition, the leu also suffered a depreciation against the Swiss franc, with the National Bank of Romania reporting a value of 5.0914 lei, up by 2.36 banis (0.47%) compared to the previous quote, worth 5 0678 lei.
On Thursday, March 21, the spot price reached $2,200/ounce
On Thursday, March 21, the spot price (current, on the spot market) of gold rose at a sustained pace, surpassing the level of $2,200 per ounce for the first time. This increase was influenced by the US Federal Reserve’s announcement of multiple interest rate cut prospects during 2024. This decision suggested that Fed officials are not worried about the recent acceleration of inflation.
In Singapore, the price of spot gold registered a significant increase of 1.6% to $2,220.89 per ounce. Later, around 7:15 am, it fell slightly to $2,202.31.
During the same period, Asian stock markets and the New York Stock Exchange (NYSE) continued to post new gains. In another context, the US dollar suffered a depreciation.
These changes followed confirmation from the US Federal Reserve of the outlook for three interest rate cuts, each by a quarter of a point, planned for 2024.
Since mid-February to date, the price of gold has seen a rise of almost 12%. This trend is influenced by expectations regarding the adoption of a more relaxed monetary policy by the United States. Usually, this outlook leads to a depreciation of the dollar, but it generates increased interest in gold as a safety instrument, especially in the context of increasing geopolitical risks.
As of Tuesday, March 19, the price of gold was $2,153 per ounce. It registered a decrease of 0.18% compared to the value of gold on Monday, which had been 2,157 dollars.
