Knowing the gold price in Germany is extremely important if you want to either buy or sell gold right now. Since gold prices are always fluctuating, it can be hard for anyone to identify the right time to acquire or get rid of their gold for a profit. But that’s why we made an always updated list with the latest gold prices you can find in Germany.
Whether you have 24 carat, 22 carat, 21 carat or 18 carat gold, it’s a lot easier right now to know the gold price in Germany. It helps you narrow down the best time to sell gold or buy it, according to your needs. In addition, you get to access immediate updates, along with a gold price history. That’s important because it helps you avoid any rush as you track the overall price and see if it spiked in price, if it’s low and so on.
The most common type of gold sold in Germany
What’s interesting when you seek the gold price in Germany is that people here tend to acquire different gold types than expected. For a lot of people worldwide, 24 carat gold is a good investment because it always increases in price. However, not everyone will buy gold as an investment. Most people choose the 18 carat gold in Germany, especially when it comes to jewelry.
They want to wear gold jewelry and not just set it randomly somewhere to sit there and resell it eventually. And that’s why we think that gold price in Germany is so important, because it does matter a lot when it comes to making any type of decision. People in Germany usually like to invest, but many also want to wear their gold. That’s the reason why they don’t go for the 24 carat or even 22 carat gold. Those are very easy to damage, and it can be a problem if you want to also wear your investment.
18 carat gold is still quite sensitive, but it’s one of the higher quality gold types you can also wear, so that alone makes it a great option. The appearance is very appealing and you also get to use it as an investment, that’s why 18 carats are usually the best option.
How much gold does Germany have?
Germany has 8918 tons of gold and around 4925 tons of that is found in the form of gold coins and bars. The rest, which amounts to 3993 tons can be found as jewelry. As we can see, most people in Germany like the idea of wearing jewelry, and some also want to own a gold bar or a coin.
CFIN surveys show that 38% of German adults own gold coins or gold bars. 61.5% of the adult Germans have some kind of gold jewelry. There are also 14.5% of the adult citizens that own ETF or any other similar products. What that shows is people in Germany enjoy owning gold, and learning the gold price in Germany is crucial if you want to fully understand everything there is to know about gold.
Most people in Germany don’t store their gold at home
Multiple surveys have also shown a very interesting thing when it comes to the way people store gold in Germany. Most of them don’t like the idea of keeping their gold within their homes. With more and more home invasions taking place worldwide, it’s crucial to stay safe and protect your investments. However, 38.3% of respondents still keep their gold at home.
Yet 39% of German gold owners store it in safe deposit boxes within the bank of their choice. There are also 5% that choose third party gold storage vaults and facilities, and 17.7% have their own storage method. It’s important to see that storing your gold in the bank is still one of the safest ways to keep your gold in Germany. However, those services come with a cost, and that’s why some people choose to either store it on their own or just keep it at home.
Understanding what is the spot gold price in Germany
Spot prices are those prices where you have a settlement of a contract where you get a lot of gold units on the commodities market. Usually you have the term spot referring to delivering the commodity within 2 days. Futures have a delivery at a later date, but spot prices are usually better and you will notice it’s close or sometimes even a bit lower than the gold price per ounce.
Spot prices are, as always, calculated only based on the current demand and supply. There’s no formula used to calculate this, but it’s all about the settlement prices for the commodity and global exchanges. Based on that information, users will be able to narrow down the right prices and ensure they have a fair offering.
What affects the gold price in Germany?
There are many different things that affect gold prices in a country like Germany. These will fluctuate often, but you will find some things that will bring costs up and down. Supply and demand is always going to dictate gold prices. If there’s a low supply of gold in Germany at the time and you want to buy, then you have to pay a higher price. That’s when you ideally want to sell your gold, when prices are high.
However, if there is a lot of supply and people don’t buy as much, prices tend to be lower. That’s when you want to start buying gold. So it’s all about studying the market and checking the gold price in Germany on this page. That way you will have a very good idea of what prices are available and if this is a good time to buy or sell your gold.
The highest gold price in Germany was 1875 Euro for an ounce of gold. This price was available on the 8th of March 2022. However, prices are always fluctuate, and they are constantly on the rise. Things like the global economy, how much people spend and so on will always have an influence on how much money people are willing to pay. Historically, investing in gold is a great idea if you live in Germany. But even then, geopolitical factors and macroeconomic factors are always going to influence prices, so it’s not going to be a failsafe investment all the time. Yet as we know, investing in gold is way less riskier when compared to many other investment options available at this time.
Is there a lot of gold in Germany?
Just to put things into perspective, German families own around 6% of the gold reserves worldwide. Yes, that is true, a lot of gold resides in Germany. It’s also important to note that Germany sees a constant increase of around 100+ tons of gold coming into the country yearly. Of course, political and financial factors influence these numbers quite a lot. However, that goes to show the gold prices in Germany will fluctuate, yet they are still much more stable when compared to a variety of countries.
Another question people have is where does Germany get its gold? Unlike the UAE and other regions that rely mostly on imports, Germany actually has some great internal production sources. They recycle a lot of gold, which is a major way for them to maintain gold on the market and not import. On top of that, Germany also has small scale and artisanal mining. That one might not be a major source, but it does provide gold for crafts and other types of services.
Then there’s industrial mining. Many mountains and regions in Germany still have lots of gold, and these extractions are bringing in a lot of gold to the country. Gold mining in Germany is done using modern machines. A lot of the process gets automated, and they do use large machinery. People in Germany have been mining gold since the 13th century AD.
One of the primary places for gold mining has been near the Rhine river. As an example, Germany has the 19th position when it comes to gold production. That goes to show a lot of gold is produced locally in Germany. So you usually have a better gold price in Germany when compared to other countries.
Does Germany import gold?
Yes, Germany still needs to import gold in order to fulfill its requirements, and you will notice that gold imports will vary in size and locations. Most of the gold imported by Germany comes from Switzerland, and it costs around $5.8 billion. Then around $2.16 billion gold is imported from the United Kingdom. Aside from that, Germany also imports gold from Austria, Russia and Belgium.
It’s also important to consider the fact that gold prices are always going to be influenced one way or another by the way people use it. Plus, carats matter, with 24 carat and 22 carat gold being widely sought after and also very close in price. 21 carat and 18 carat gold are still extremely popular in Germany, and that’s what you will usually see in the case of imports.
Most of the gold imported or sold in Germany is measured in Grams. However, there are some people that measure gold in ounces, especially if they buy gold in Germany and want to relocate it to another place.
Why does the gold price in Germany fluctuate often?
There are many different reasons, some of which are very hard to control. One of them is the Central Bank Activity, based on that you will see gold prices increasing or dropping quite a bit. Then there are currency prices changing drastically, that does affect gold prices more than a lot of people might expect.
Plus, we also have to take into account interest rates changes. The interest rates are changing quite often, and those will affect gold prices too. So it’s common to see gold price in Germany changing due to interest rates being higher or lower than usual. Then we also have to think about inflation. The truth is that inflation can be very problematic and a high/low inflation level will adequately influence the total price for gold as well.
Aside from these reasons, we can also add things like the demand for jewelry investments, and also the gold market fluctuations that appear due to random factors. As we said, many of these things are out of our control. So what we can do is to browse the gold price in Germany and monitor to see if there are any changes.
You should always check the gold price in Germany and see if there are any changes. Browsing the historical pricing is also going to help you see any patterns. That way, you will find it much easier to know when and how to invest in gold. Don’t hesitate and browse our gold price in Germany charts, they are updated in real time so you can have a good insight into the current gold prices!
How much is 24K gold per gram in Germany?
The current gold price of 24K per gram is: 69.17 Euro
