German Investors buy significantly more Gold
By GCRU Gold News on Tuesday, December 23 2014, 23:03 - Permalink
Compared to the previous months, German investors have bought significantly more precious metals in November. Both the demand for gold and for silver have risen. Degussa estimates the total sale of gold in November to be around 15 tons, with a value of about 450 million Euro, approximately 40% above the monthly average this year. Despite the record month of November, Degussa expects a slight decline in total for the year 2014 in Germany, from 121 tons in 2013, down to 116 tons.
The amount of people who invest for the first time is remarkably high as well.
The increased demand for precious metals led to considerably longer delivery periods on the side of the gold producers and state mints, since the demand also grew stronger on the US and Asian markets. The shortage of supplies of the South African Krugerrand led to a temporary doubling of the premium, which as the gold price fell, caused a slower dropping of coin prices than the international gold price noted in London.