GERMAN GOLD BUYING: A Chart You Have To See
29-May (SRSrocco Report) — While EASTERN demand for physical gold investment remains strong, most of the folks in the WEST are bored with the barbarous relic as they continue to funnel their funds into highly inflated paper assets. However, the Germans seem to look at gold a bit differently… actually a lot differently.
Even though the Swiss continue to buy more gold on a per capita basis, German physical gold investment demand is the highest of all Western countries. How much higher? Let’s look at the chart below:
According to the World Gold Council, total German physical gold bar and coin demand during Q1 2015 was 32.2 metric tons (mt), Switzerland ranked second with 13.8 mt and the U.S. came in third at 9.9 mt. Interestingly, German physical gold investment increased 20% compared to the same period last year while U.S. gold coin and bar demand fell 12%.
…Germany is actually buying 12 times more physical gold per capita than the United States.
Again, if we exclude the savvy gold buying Swiss, the Germans continue to be the strongest physical gold buyers in the West. Lastly, if we add up all the other Western countries total gold bar and coin demand including Switzerland, here is the result for Q1 2015:
Germany = 32.2 metric tons (45%)
Rest of West = 39.5 metric tons (55%)
Is there something the Germans know about gold that most of the folks in the West don’t?
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