New Study: 69% of Germans Own Gold
Germany is supposed to be the receiver, essentially, of Europe, as peripheral states go bankrupt and succumb to core imposed austerity measures. But, despite this, and other impediments for bullion buying in Germany, retail investors are buying en masse along this particular anarchic sonderweg. One particular impediment for retail investors are a 19% tax on bullion. In a new study by the Steinbeis Research Center for Financial Services has found that 69% of Germans have invested in gold. Half of these individuals store the precious metals in their homes. 48% keep their precious metals in bank vaults, while 9% leave their metals behind at gold shops.
Germans with a net monthly income over EUD 4,000 who express an interest in precious metals has doubled in 2012.
Per capita, Germans own about 117 grams of gold each, including gold securities the average German owns around EUD 5,750 of gold. As a nation, Germany holds 7% of the world’s gold when the gold holding of the German federal bank are counted.
The study discovered that wealthy Germans prefer to invest in gold bars. Less affluent Germans look to purchase their bullion in the form of coins.