The Germans and Austrians have surpassed even the Swiss in gold ownership. Both the nations see it as a safe protection for their reserves
23. 01. 2023
Gold is generally considered a safe harbour and an investment that pays off to have in your portfolio, not only during a crisis. Now it turned out that the precious metal is not only popular with the Swiss. A nation known for its wealth, safe banks and technical precision has now been overtaken in gold ownership by the Germans and Austrians.
According to Handel Zeitung, the Swiss own an average of 95 grams of precious metal per person, while Germans and Austrians own about twice as much. The Swiss are more willing to invest in riskier assets, according to a survey published above. On the contrary, the historical experience of Germans shows that many people have memories of gold since their childhood and that the precious metal has always played a role in their families as a tool for protecting wealth and as a hedge against inflation. The Austrians also see stability, security and protection of their investments in gold.
According to research conducted by the Swiss University of St. Gallen, based on a sample of 4‑5 thousand people in each country, the Swiss own an average of 95 grams of gold, the Germans 205 grams and the Austrians even 220 grams of the precious metal per person. In total, Swiss private investors hold approximately 265 tonnes of gold, Austrian investors 388 tonnes and German investors 9,089 tonnes. In Germany, there is almost 2.7 times more gold in private hands than is held by the German central bank itself.