Many investors still shy away from investing in the financial markets – and prefer to invest their money in gold. The result: the metal inventory of the stock exchange reaches a new record level.
In uncertain economic times, the demand for gold as an investment at Deutsche Börse has increased significantly. As of June 30, 221.7 tons of the precious metal were stored in the company’s safes in Frankfurt, as the stock exchange announced on Thursday. At the beginning of the year there were still 18.5 tons less.
New gold is always added when investors purchase the so-called Xetra-Gold bond. One gram of the precious metal is deposited for each share certificate. After the rise in the price of gold in the past few months, the value of gold holdings rose to 11.3 billion euros – also a record high.
High gold demand expected
In view of the high level of uncertainty on the markets, Deutsche Börse continues to expect “keen interest in gold”. In turbulent times, the precious metal is a safe haven for investors.
In addition, savings accounts or call money have hardly brought in anything due to the extremely low interest rates. Investments in gold that yield neither interest nor dividends are therefore still attractive for savers.
The Stuttgart Stock Exchange also offers a gold-based exchange-traded security (“Euwax Gold”). According to a message from May, the daily trading volume for this product was four times higher than the previous year’s average.