Germany fears EUROZONE MELTDOWN: German investors rush to buy gold
By GCRU Gold News on Wednesday, November 1 2017, 22:23 - Permalink
Figures from the World Gold Council (WGC) reveal the country invested a record £6billion in gold bullion and coins as well as in exchange-traded products.
Germany is now the world's biggest buyer of gold
Economic development in Germany has been strong over the past decade but investors have been very cautious about the risks to European financial and political systems.
And the latest surge in demand for gold in Germany is being fuelled by fears of the economic impact of Brexit and Catalonian independence efforts, high public debt worldwide, successive bail-outs of Greece, fall-out from the migrant crisis and the resurgence of nationalist politics.
Low growth rates and productivity in some European Union regions and the lack of confidence in central banks have also contributed to the lure of gold.