Germans own over 9,000 tonnes of gold

Goldreporter | May 4, 2021 | 10:17 am Intelligence Europe Gold 
Germans own over 9,000 tonnes of gold
German gold. Stock image.

(This article first appeared in Goldreporter)

A new study estimates that German private households own around 9,100 tonnes of gold —70 tonnes more than in 2019.

Commissioned by Reisebank from Berlin-based Steinbeis University, the study reveals that German private households now own more than 9,089 tonnes of gold. The last time corresponding data had been collected via a survey was in 2019. At that time, the market researchers had come to 8,900 tons of German gold ownership, which would have added 189 tonnes. In the current study, one speaks of an increase of 270 tonnes.

Gold of the Germans

Survey details:

  • German private households hold more than 6 percent of the world’s gold reserves, the equivalent of 616 billion euros at last count;
  • The share of gold bars and gold coins in this gold ownership is estimated at 41.7 percent. Total: 5,194 tonnes. In the 2019 study, it was still 55 percent or 4,925 tonnes;
  • 93.2% are satisfied with their gold investment (2019: 91%);
  • More than three-quarters of respondents plan to purchase more gold. (In 2019 – 78%)
  • On average, each gold investor invested €4,250 over the past two years;
  • 5% were first-time buyers.
  • Priority reasons given for gold investments were value preservation (43.9%), protection against inflation (33%), aesthetics (31.1%) and the aspect of “holding a real, value-dense investment in your hands” (29.7%).
  • During the pandemic, the percentage of “Generation Z“ investors (born between 1995 and 2010) increased from 15.6 % to 23.3%.

Spot gold is down 0.8% to $1,776.66 per ounce by 1 p.m. ET Tuesday. US gold futures also fell 0.8% to $1,776.40 per ounce.

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3 Comments

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  • Jeffrey Pollitt

    I enjoy examining locations and data of potential and producing gold mining districts; and am considering investing some money for purposes of diversification.

  • Van Monroe

    This Article is misleading. It states “German private households own around 9,100 tonnes of gold” when the actual holdings are 5,194 tonnes. If you don’t hold it, you don’t own it.

    • Frik Els

      Thanks for the comment Van, I believe the 5,194 refers to gold in the form of bars and coins. According to the study physical gold held (incl jewellery) is 7,500 tonnes with the remainder in the form of securities like ETFs / paper gold.

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