Gold prices continue their upward trajectory, reaching record highs as of Tuesday, November 26th, with a gram trading at 586 lei on the Romanian National Bank exchange. The surge is fueling investor interest across Romania, as the precious metal is increasingly viewed as a safe haven amid global economic uncertainty. However,potential investors should note meaningful tax differences between purchasing gold bullion versus jewelry,with the latter carrying a 21% VAT.
Gold is poised to become the investment of the year, surging over 60% in value. As of Tuesday, November 26th, a gram of gold was trading at 586 lei at the National Bank of Romania’s exchange rate. Jewelry prices are also on the rise. However, experts caution that the tax implications vary significantly depending on the type of gold purchased.
Gold bars and coins are exempt from VAT, while gold jewelry is subject to a 21% VAT.
“During periods of financial instability, investors turn to gold. It’s considered one of the safest long-term investments, and particularly when stock prices are high, purchases of gold bars increase. A 21% VAT applies to 14k gold jewelry; 24k gold bars are VAT-free. Clearly, bars are the preferred choice for investment – that’s investment-grade gold,” explains Adrian Toth, a jeweler.
Jewelry includes additional costs such as labor, design, and branding, which reduce its market value compared to raw gold.
“The smallest two-gram bar is currently priced at 1,380 lei. A 20-gram bar costs 12,900 lei. Of course, the price is also influenced by the market. For larger investments, we have 50-gram bars at 31,150 lei or 100-gram bars at 61,850 lei,” Toth added.
Inherited gold is also not subject to tax, provided that the legal procedures for succession are followed. The rising price of gold has spurred increased interest among Romanian investors.
“I’m considering getting into this for the future, as it seems like a good investment,” said one young investor.
“I haven’t bought any yet, nor have I invested in gold, but it would be a very good idea,” another individual commented.
“I think it’s a fairly good, untapped area, and I believe more people should pay attention to it. I will definitely consider it,” said a third.
Experts anticipate that Romanian interest in gold will remain strong in the coming period. Currently, the price of a gram of gold at the National Bank of Romania’s exchange rate exceeds 580 lei.
reporter: Bianca Timșa
operator: Radu Tomuleț
Editor : Izabela Zaharia
