Monday, November 6, 2017

Gold acquisition no longer relegated to China and India as Germany takes front spot last year as world's largest buyer

Each year much of the gold community looks forward to the holiday and festival buying by both India and China to help spur on higher prices, especially into the final months of the year.  But in an interesting move by an EU country of all places, it appears that Germany is suddenly gaining a strong interest for the metal, and become the world's largest buyer in 2016.

– German gold demand surges from 17 ton-a-year to a 100 ton-plus per year
– €6.8 Bln spent on German gold investment products in 2016, more per person than India and China
– Germans turned to gold during financial crises and ongoing euro debasement
– Evidence of latent retail demand on increased economic concerns
– “Gold fulfils an important long-term, wealth preservation role in German investors’ portfolios” 
When measured on a per capita basis it is Germany that takes the impressive crown of largest gold buyer in 2016, all thanks to their investment market. Last year the country set a new personal best, ploughing as much as £6.8bn ($8 bn) into gold coins, bars and exchange-traded commodities (ETCs). – Gold Seek


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