Thursday, 3rd April 2008 (769 views)

Romanians spent 240 million euros (£188.3 million) on gold last year, purchasing some 15 tonnes' worth of gold jewellery, according to reports.

News service Ziarul Financiar reports the figures were unveiled by Mihai Pacioianu of the Federation for Precious and Semi-Precious Metals and Stones Diamond-Gold (FMPPS-DG), a trade association that represents some 2,000 involved in jewellery production.

He added that overall, deals involving gold in the former Eastern Bloc country had increased by an average of ten per cent "over the last few years", while the price of gold jewellery had risen by 40 per cent since 2006, driven by consumer demand.

Gold jewellery also now accounts for 90 per cent of all trading in the precious metal in Romania's market, Mr Pacioinu commented.

With gold prices performing robustly on worldwide stock markets, the FMPPS-DG predicts it will continue to attract high demand from investors and consumers.

 

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