The question most Romanians ask when they walk into a jewellery shop or open a dealer's website is simple: how much does a gram of gold cost?
The answer depends on a few things, first of all the carat of the alloy. A gram of 14k gold and a gram of 24k gold are not worth the same, even though both carry the name gold.
This guide gathers the numbers that matter: purity for each carat, how the daily price forms, where you can buy gold in Romania and the tax you owe when selling.
We do not quote the exact price of the day, because it changes hourly, but we show you exactly where to read it correctly.
The quick answer: how much a gram of gold costs
The price of a gram of pure gold (24k) in early July 2026 sat, as an indicative value, around 347.80 lei.
This is a reference for calculation, not a fixed quote. The real price of the day is checked at the BNR or at a dealer such as Tavex, at the moment of the transaction. For the other carats, starting from the same indicative reference, the value of the fine-gold content looks roughly like this:
24k gold (999): about 347.80 lei per gram, almost pure gold.
18k gold (750): about 260.85 lei per gram of fine content.
14k gold (585): about 203.45 lei per gram of fine content.
On jewellery, craftsmanship and the shop margin are added on top of this value, so the price on the tag is higher than the raw value of the metal.
What carats mean and how they change the price
The carat measures how much pure gold an alloy contains, out of 24 parts. 24k gold means 24 out of 24 parts gold, a purity of 99.9%.
18k gold has 18 parts out of 24, that is 75%, and 14k gold has 14 parts out of 24, that is 58.5%. The rest of the alloy is made of other metals, copper, silver or palladium, which add strength and sometimes colour.
14k gold is harder and better for jewellery worn daily, while 24k gold is too soft for rings but ideal for investment bars and coins.
To find the fine-gold value in a piece of jewellery, you multiply the weight by the purity percentage and by the price of a gram of pure gold.
A wedding band of 4.7 grams in 14k gold contains 2.75 grams of fine gold (4.7 × 0.585), which at the reference above means around 956 lei for the metal alone, before craftsmanship.
In Romania, 14k gold dominates jewellery windows precisely for its balance of price and durability.
For investment gold, though, the standard is 24k, because bars and coins are not worn but stored, and the buyer pays for the metal, not for the strength of the alloy.
This difference in use explains why the two carats live on almost separate markets.
The colour of gold does not change the value of the fine metal; it comes from the added metals. White gold contains palladium or nickel and a rhodium layer on the surface, rose gold has more copper, and classic yellow gold keeps the traditional proportion.
A white-gold ring and a yellow-gold one, both 14k, contain exactly the same amount of pure gold, so they start from the same metal value.
How the gold price is set
The gold price is not fixed by a shop in Romania but by the international market.
The global benchmark is the spot price, quoted in dollars per troy ounce (a troy ounce is 31.1035 grams). From this international price the value in lei for one gram is calculated. This is where the exchange rate comes in, because gold is quoted in dollars while you pay in lei.
A move in the leu-dollar rate shifts the gold price as much as a move in the international quote.
You can follow currency movements on our exchange rate page to understand why the price in lei changes even when the dollar quote stays still. The National Bank of Romania publishes a daily reference value for gold, used mainly in accounting and official valuations.
Commercial dealers start from the international spot and add their own margin, so their selling price is somewhat above the BNR reference, and their buy-back price somewhat below it.
What moves the gold price over the medium term?
First, central-bank interest rates: when rates fall, gold becomes more attractive, because it does not compete with the yield on deposits. Then inflation, geopolitical tension and central-bank demand, as they buy gold for reserves.
All these forces add up in the spot quote you see displayed at the dealer.
Where to buy gold in Romania
You have a few main channels, each with advantages and limits.
The choice depends on what you want: jewellery, an investment bar or a fast liquidity solution.
Specialised dealers (Tavex and others). They offer investment bars and coins, 24k gold, with a certificate and a transparent quote shown in real time. The advantage is a price close to the market and a small buy-back spread.
The drawback is a stock aimed at investment rather than wearable jewellery. Banks (BCR, Banca Transilvania). A few banks sell gold bars over the counter, with the safety of a regulated institution.
The advantage is trust and clear documentation.
The drawback is sometimes larger margins and a wider buy-back spread than at specialised dealers. Pawnshops and jewellery stores. Good for second-hand jewellery at a lower price or for quick liquidity when you sell.
Here checking purity is mandatory, because not every piece has a certificate. A licensed pawnshop is a legitimate option, but always compare the price with the real value of the metal.
Bar size matters too. A one-gram bar has a higher cost per gram than a 100-gram bar, because processing and packaging are split across less metal.
First-time buyers often choose small bars, easy to resell, while a long-term investor prefers large pieces with a better unit price.
Weigh liquidity against cost per gram before you choose the format.
How to check purity and authenticity
The first sign is the fineness mark stamped on the piece: 585 for 14k, 750 for 18k, 999 for 24k. On bars you look for the serial number and the accompanying certificate, ideally in sealed packaging (a blister).
A simple test at home uses a magnet: pure gold is not attracted. It is not absolute proof, because some counterfeit alloys are not magnetic either, but it quickly rules out crude fakes.
For large sums, ask for XRF-device verification, a non-invasive method that reads the exact composition in seconds.
A serious dealer does it without hesitation. Beware of online offers that are too good. The price of physical gold is fairly uniform among serious dealers, so an ad at 30% below the market is almost certainly a trap.
Buy from merchants with a physical address, verifiable reviews and a written buy-back policy. If the seller refuses to show the certificate or rushes the decision, stop the transaction.
Tax on the gain from selling gold
When you buy investment gold (bars and certain coins), the transaction is exempt from VAT across the European Union, under harmonised law.
So you do not pay the standard rate on top of the metal price, a clear advantage over jewellery, which includes VAT in the price.
Selling is a different matter. If you sell gold for more than you paid, the gain can be taxable income and is declared to ANAF in the unified return. Keep the purchase documents, because without them you cannot prove the buying price, and the tax authority could treat the whole amount received as taxable.
An accountant will tell you the exact rate that applies in a given year.
Gold as part of a portfolio
Gold has the reputation of a refuge in times of inflation or instability, but it produces no interest and pays no dividends. Its price can rise for years and then stagnate just as long.
Gold can be one part of a diversified portfolio, as long as you understand that the value fluctuates and that it is not a guarantee of profit.
If you think of gold as a form of long-term saving, compare it with other instruments before you decide.
On our investments page you will find alternatives, from deposits to funds, with different risk and return profiles. The simple rule remains not to concentrate all your savings in a single asset. Keep storage costs in mind too.
A bar kept at home needs a safe and, ideally, insurance, while a safe-deposit box at a bank carries an annual fee.
These small costs erode the gain over time and must be added to the calculation alongside the spread.
Physical gold has no management fee like a fund, but it is not entirely free to hold either.
Bogdan Băicu, Kreditano editor: "When I worked on the retail side at BCR, around 2015, I saw clients buying bars believing they were locking in a guaranteed profit. I always explained the same thing: gold protects your value over time, it does not double your money overnight. Whoever buys with the right expectation is rarely disappointed."
Practical takeaways before you buy
Do not buy under pressure and do not rely on a single quote you saw a week ago.
The gold price varies from day to day, sometimes noticeably, depending on the international market and the exchange rate.
An hour of comparison between dealers often translates into a few dozen lei saved on every gram. Check the spot price of the day, not an old figure from a forum.
Compare the quote of two or three dealers and look at the spread, not just the selling price.
Ask for the certificate and the fineness mark, and for large sums, XRF verification. 14k and 24k gold answer different needs: the first for jewellery worn daily, the second for investment and preserving value.
Whatever you choose, treat the purchase as a financial decision, with documents, price comparison and a realistic view of the risk.