"German Gold Frenzy: Record Breaking Retail Purchases & Central Bank Buying Soar!"
The German market has seen a surge in gold purchases, with retail investors buying a record amount of 196 tonnes in 2022. This was due to the highest inflation rate in 70 years, causing investors to become ultra-bullish on gold.
Additionally, central bank demand for gold reached 1,136 tonnes in 2022, marking the thirteenth consecutive year of net purchases. This level of demand is the second highest on record since 1950, with a significant increase of +400 tonnes in both Q3 and Q4.
These findings indicate a strong trend towards increased investment in gold, particularly in Germany, as a means of protecting wealth against inflation and market volatility. The continued growth of central bank purchases further supports the confidence in gold as a valuable asset for investors.