The gold deposits of investors and investors at the German Stock Exchange continue to decline significantly. As of June 30th of the current year, the company had stored 175.5 tons of gold in its vaults in Frankfurt, according to the German Stock Exchange. This was 23.2 tons less than at the beginning of the year (198.7 tons). Over a five-year period, the stockpile had decreased by 18.8 tons, while the gold price per gram in Euro had risen overall by 75 percent, the German Stock Exchange explained further.
In the past six months, there have been outflows of gold-backed securities mainly in North America and Europe, as many investors sold their holdings at record highs, said Steffen Orben, Managing Director of Deutsche Börse Commodities, the issuer of Xetra-Gold. “At the same time, the global gold buying craze by central banks is unbroken, especially in the Asian region.” This drives the gold price to new record highs – to the…
