The business of Gold is booming: retailers and jewellers report a growing demand for the precious metal. The resulting increase in gold prices affects Gold as an investment product as well as the market for gold jewelry. In addition, a lot of customers due to the price increase of gold more to purchase houses or to the jeweler. As of Friday, the jewelry meets and gem industry are expected at the Munich trade fair, Inhorgenta, to the over 1,050 exhibitors.
“In the Euro price of gold reached a record value,” says Michael Eubel, head of the precious metal business of the BayernLB, which was in 2019, over 60 tonnes of physical Gold. Currently the ounce is trading in London for over 1,400 euros, as high as never before since the introduction of the common currency.
Many experts expect that the price continues to rise. On the International level, the quotation in Euro is not. “The world is watching the price of gold in dollars, and since we are still about $ 400 below the peak of the year in 2011, when an ounce was trading for around $ 1,900,” says Eubel. Gold in Euro 1.437,57 GBP +1.22 m (+0,08%), except over-the-counter To the course data
discussion of negative interest rates makes Gold more attractive
The cause for the increased attractiveness of gold is obvious: “The all-overlapping discussion of negative interest rates,” says Benjamin Summa, a spokesman for the Munich-based gold trading company Pro Aurum are. “The discussion has also reached the small savers.” Many banks and savings banks require for some time now, interest rates for larger balances in savings accounts, meanwhile, there are also some institutions, which collect from the first Euro credit interest rates of their customers.
taking into account the Inflation, losing savers without penalty interest rate of money. Gold has always been a reputation as a comparatively secure investment. “Before the turn of the year we were almost sold out, there was a dramatic shortage of supply,” says Summa.
In Germany, Gold has always been a high priority: “in terms of population, Germany is the gold affinste country”, said BayernLB chief dealer Eubel. Each year, the German purchase of about 100 tons of the shiny metal. And in addition, the Bundesbank announced the world’s second-largest gold reserves of their own, a total of about 3,300 tonnes.
Also the jewelers do not report strong demand, even though there is jewelry to yields and price gains. “Gold jewelry is not investment, but a valuable investment,” says Joachim conceit of man, managing Director of the German Association of jewelers. “The rising gold price means that the demand, on the contrary.”
number of marriages is driving demand for jewelry to
A major factor has to do with the financial market nothing: “The number of marriages is rising,” reports the conceit of man. 2018 were celebrated according to the Federal statistical office, over 449.000 weddings in Germany, 70.000 more than ten years earlier. Not be counted for 2018, same-sex marriages, the absence of comments earlier in the statistics. Gold, commodities, currencies – the market analysis of the COT Report gives the correct view. (Partner offer) Now 30 days free of charge analysis to read!
That alone explains the current Run on the registry offices, however, because in 2018 there was a time, only 33,000 same-sex wedding. And many young couples not only buy wedding rings but also engagement rings. “The request ring back,” says conceit of man.
The gold market, influenced the jewelry market: If Gold is more expensive, to rise naturally with some delay, prices for gold jewelry. But the reverse is not true. “Every year, worldwide, about 4,300 tonnes of demand for physical Gold,” said BayernLB professional Eubel. “Half of it goes to the jewelry industry. This has an impact on the price? The clear answer: no.”
The reason: “in The financial market Gold is at the latest since the financial crisis, a highly liquid asset class,” says Eubel. Traded Gold predominantly in electronic Form, and also derivatives and funds of all kinds are on the market as is the case with other asset classes. “The purely physical trading makes up less than one percent,” says Eubel.
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hyo/dpa
