Figures from the World Gold Council (WGC) reveal the country invested a record €6.8bn in gold bullion and coins as well as in exchange-traded products. Analysts say improved availability, low prices and growing demand due to loose monetary policy, economic uncertainty and volatile geopolitical factors are the three key reasons behind the German investors’s gold rush. Their fondness for gold is a relatively recent development and before 2008 investment in physical gold barely registered with average annual demand at 17 metrics tons. But then the financial crisis struck and sparked a series of events that ultimately pushed many Germans into seeking a more reliable store of value. A WGC report said: “While the world fretted about Lehman Brothers, German investors worried about the state of their own banking system. “Landesbanks, the previously stable banking partners of corporate Germany, looked wobbly. People feared for their savings.” Economic...
from GoldBroker.com https://www.goldbroker.com/news/germany-fears-eurozone-meltdown-german-investors-rush-to-buy-gold-1222
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