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Gold May 05, 2021 05:50:46 PM

Study Cited Immense Gold Treasure in German Households

Paul Ploumis
ScrapMonster Author
This suggests that the gold stocks have risen by almost 270 tonnes from the 2019 levels.

Study Cited Immense Gold Treasure in German Households

SEATTLE (Scrap Monster): A new study commissioned by Reisebank from Berlin-based Steinbeis University indicates that German private households hol,d huge quantities of gold. The gold holdings by households registered growth over the previous year in 2020. The Germans rely on gold as a tool capable of protecting them from crisis.

The survey estimates that the country’s households own around 9,100 tons of the yellow metal. This suggests that the gold stocks have risen by almost 270 tonnes from the 2019 levels.

The gold in German households was valued at approximately 616 billion euros and account for more than 6% of the world’s total gold reserves. Of this, gold bars and coins totalled 5,194 tons, representing 42% share of total holdings.

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According to the survey, the percentage of people satisfied with their gold investment increased from 91% in 2019 to 93.2% in 2020. Also, more than three-quarters of survey participants expressed willingness to purchase more gold in future. It must be noted that the percentage had stood lower at 78% in 2019.

The gold investors cited several reasons for their investment, the main among them being value preservation, protection against inflation, aesthetics and the aspect of holding a real, value-dense investment in hands.

The survey is based on data collected as part of a telephone survey of 2,000 German citizens belonging to legal age group.

 

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