Gold hoard of Germans at record high
A new study by Reisebank brings it to light: the pandemic has caused gold to rise in favor among investors. Thus, 93.2 percent are satisfied with their gold investment. And most, namely four out of five, want to keep their gold, while three quarters are considering buying more gold. And especially among younger investors, gold could increase in popularity. Gold in the form of coins or bars is owned by 41.7 percent of Germans. Compared to 2019, about 270 tons more gold are now owned by citizens.
Over the past two years, more than a quarter of those surveyed by Reisebank have bought investment gold, spending an average of over EUR 4,250 on it. The reasons given for investing in physical gold were value retention, protection against inflation and the idea of holding a real investment in one's hands. Even if the pandemic subsides, more than 44 percent want to buy gold again in the future. The buying behavior of "Generation Z," those born between 1995 and 2010, is also interesting. Although they did not invest as much as other cohorts, in terms of numbers these younger people were particularly eager to buy gold.
Continued strong demand for gold can still be assumed, as the low-interest phase and the risk of possible crises still exist. Word has spread about gold's inflation protection. Those who are a bit braver can also stock up on the shares of gold companies, as leverage on the gold price beckons. There's Cheaspeake Gold or Revival Gold, for example.
Cheaspeake Gold owns the Metates project in Mexico, in Durango. This is one of the largest undeveloped gold, silver and zinc deposits on earth. Other projects are on the company's radar screen.
Revival Gold - https://www.youtube.com/watch?v=eFWMIaf1BsM - is advancing the Beartrack-Arnett gold project in Idaho. It is expected to produce an estimated 72,000 ounces per year over an initial seven years.
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