According to current market figures, investors in Germany demanded a total of 19.3 tonnes of gold bars and coins in the third quarter of 2019. This was enough for third place among the world’s largest buyers of investment gold.
Gold coins and bars
The World Gold Council (WGC) published its gold market report for the third quarter of 2019 yesterday (Goldreporter reported). The report also includes a breakdown of gold demand by country. According to the data, investors in Germany demanded a total of 19.3 tonnes of gold coins and bars between July and September 2019. Compared to the previous quarter, this represents an increase of 2 per cent, while a year-on-year decline of 33 per cent was recorded.
823 million euros in gold
In terms of value, it looks as follows: At an average price of EUR 1,326 (USD 1,472; London P.M. each) per ounce, investors in Germany invested EUR 823.25 million (USD 913.89 million) in gold coins and bars in the third quarter. In Q3 2018, the average price was 1,042 euros per ounce (1,213 US dollars) and the total was 967.37 euros (1.12 billion US dollars). The WGC has reported 28.9 tonnes of investment gold in demand for this period. This results in a 15 percent (19 percent) decline in German monetary gold demand for Q3 2019. Compared to the previous quarter, however, gold investments increased by 16 percent.
Germany in 3rd place
How did the German demand for gold coins and gold bars compare internationally? Here are the numbers of the top 10:
- China (incl. Hong Kong/Taiwan): 44.5 tons
- India: 22.3 tonnes
- Germany: 19,3 tons
- Iran: 12.6 tons
- Vietnam: 9.2 tonnes
- Turkey: 6.7 tonnes
- Switzerland: 6.5 tons
- USA: 4.8 tons
- South Korea: 4.3 tons
- Pakistan: 2.6 tons
In the first three quarters of 2019, Germany saw demand for 62.6 tonnes of investment gold. According to the WGC figures, this represented a decline of 12 percent or 8.6 tonnes compared with the same period of the previous year.