Currency markets wobble after Credit Suisse deal as Fed remains acid test
Traders will watch how the Swiss franc reacts to the flurry of weekend activity that saw rival UBS Group AG agreeing to buy Credit Suisse.
(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.
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.
I enjoy examining locations and data of potential and producing gold mining districts; and am considering investing some money for purposes of diversification.
This Article is misleading. It states “German private households own around 9,100 tonnes of gold” when the actual holdings are 5,194 tonnes. If you don’t hold it, you don’t own it.
Thanks for the comment Van, I believe the 5,194 refers to gold in the form of bars and coins. According to the study physical gold held (incl jewellery) is 7,500 tonnes with the remainder in the form of securities like ETFs / paper gold.