Bloomberg/Eddie Spence/8-26-2021
“Demand for physical bullion in Germany, traditionally the biggest coin and bar buyer in Europe, was the highest since at least 2009 in the first half, World Gold Council data show. While purchases in other Western markets have also been strong, Germans in particular are pouring into the metal as a hedge against rising inflation — and dealers say business remains good.”
USAGOLD note: The German people have always had a special attachment to gold as a hedge against currency debasement. Memories of the nightmare German hyperinflation of the 1920s are still deeply ingrained in the nation’s culture. German demand for gold coins and bars has increased 35% from the previous six months driven by concerns about central bank monetary policies.
Image: A storekeeper converts a stack of German currency in the 1920s to a notepad. To save on production costs, the currency was printed only on one side.
