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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