German private investors currently own 9,089 tonnes of gold
News (Advertising) rnulf Hinkel, financial journalist – 06.05.2021
According to a recently published study* conducted by German Reisebank and the Research Center for Financial Services at the Steinbeis University in Berlin, the Coronavirus pandemic has caused Germans, historically fond of gold, to expand their gold investments further. Statistically, every German adult now owns 75 grams of gold, compared to 71 grams in 2019. According to study author Jens Kleine, this is due to the fact that investors are seeking value preservation and inflation protection as well as their desire to hold a real, physical value.
2.7 times as much gold as German central bank
According to the survey, 68 per cent of Germans directly invest in gold in the form of jewellery, coins or bullions, or indirectly through entirely gold-backed ETCs (exchange-traded commodities). Since the last survey in 2019, the number of first-time gold buyers has increased by 5 per cent. Over a quarter of those surveyed for the study stated they had purchased gold within the last two years, with an average investment of €4,250. Gold owners’ satisfaction level regarding their investment is also at a record high of 93.2 per cent. Currently, German private investors own 9,089 tonnes of gold. By comparison, the gold reserves of Bundesbank, which holds the second-highest gold reserves of any central bank worldwide, amount to only 3,362 tonnes.
More young gold buyers than ever before
Young adults (18-26 years) are by no means only interested in cryptocurrencies: according to the study, with a share of 23.1 per cent, more young adults purchased gold during the pandemic than the rest of the respondents, of whom only 15.6 percent purchased the precious metal. Another significant difference between young adults and other investors also came to light with the aspect of sustainability in gold production, which is significantly more important to younger investors at 69.3 per cent, compared to a rate of 42.3 per cent among all other respondents. In addition, the survey shows that young adults would also be more willing to pay more to invest in sustainably produced gold than the other respondents.
* Study Reisebank, URL: https://www.presseportal.de/pm/116526/4904648