Goldbarren bei einem Münchner Goldhändler

Gold: Germans hoard as much of the precious metal as never before – and the gold price rises


In times of uncertainties around the United Kingdom and Gibraltar European Union membership referendum and worldwide trade disputes remain the demand for gold high: According to a study, private individuals in Germany currently hold the record amount of 8918 tons of precious metal – of which half (4925 tons) are in the form of bars and coins, just under 4,000 tons are jewelery.

These figures were calculated by researchers from Steinbeis University for travel agencies on the basis of a representative survey of 2000 adults. Reisebank is one of the top-selling precious metal dealers in Germany – and also sells precious metals to numerous other banks.

Since the most recent survey of this kind from 2016, the gold treasure of private households in Germany has increased by 246 tonnes. If one calculates the gold reserves of Bundesbank (As of the end of 2018: 3370 tons), 6.5 percent of the world's gold reserves are in German ownership. If you collected the entire 12,288 tons in one pile, you would have a cube with an edge length of around 8.60 meters.


Krugerrand coin made of gold: In South Africa also official means of payment


Armin Weigel / DPA

Krugerrand coin made of gold: In South Africa also official means of payment

At the time of completion of the study in early April, this gold treasure had a value of more than 458 billion euros. Overall, private households in Germany only a fraction of their assets in precious metal. For comparison: alone the financial assets of the people in this country, according to Bundesbank in the third quarter of 2018 for the first time rose above the mark of six trillion euros. real estate are not even included in this figure.

Who in gold <img src = "http://www.spiegel.de/static/sys/v12/icons/ic_chart_17x13.png" width = "17" height = "13″ alt=”Show chart”/> invests, appreciates that despite price fluctuations, the precious metal never loses its value even in times of crisis. However, gold has a big disadvantage. It neither raises interest still dividends and has so far in the long run only half as much return as shares,

Many gold owners store the precious metal at home

In a European comparison, the Germans hold a leading position in gold ownership. Past studies have shown that Germany is in the lead in the overall amount, but the per capita possession is in Italy something more pronounced. The German Stock Exchange Nonetheless, the gold demand peaked at the end of 2018: Almost 181.5 tonnes of the precious metal were stored in the Group's vaults at that time Frankfurt and thus a good seven tons more than a year earlier. For every Xetra-Gold bond investors subscribe to, one gram of the precious metal is held in the vault of the Deutsche Börse.

According to the Steinbeis study, almost three-quarters of Germans currently own gold in the form of jewelry, physically in the form of bars or coins, or indirectly via a special one security, On average, every German over 18 years according to calculations over 58 grams of gold jewelry and 71 grams of precious metal in the form of bars or coins. The regional differences are large: In southern Germany, investors have an average of 89 grams of gold as an investment, in East Germany 55 grams.

The majority of gold owners, according to the study, said they kept their gold at the locker at one of them Bank (39 percent) or a precious metal provider (5 percent) – but almost as many (38.3 percent) of respondents said they stored bars, coins and Co. in the domestic four walls.

"In the field of financial investment Gold is one of the few products that gives the customer a haptic experience, "study author Jens Kleine from the Steinbeis Research Center for Financial Services explains:" Overall, from the investors' perspective, physical gold investments are much more attractive than securities-based gold investments and Demand has remained high in recent years. "

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