In Germany, gold remains a popular investment asset even after the coronavirus pandemic. A study by the Steinbeis University of Berlin, conducted for the Reisebank, shows that Germans continue to invest in gold despite high prices. Currently, there are 9,034 tons of gold in private ownership, a slight decrease compared to 2021, when 9,089 tons were recorded. Nevertheless, the amount of gold bars and coins has increased: from 5,194 tons in 2021 to 5,229 tons.

The popularity of gold as an investment option is due not least to its role as an inflation hedge. 61 percent of federal citizens own gold in some form. Despite the lack of interest or dividends, gold is considered a stable value investment. Especially in times of crisis, investors seek security in precious metal.

High prices do not deter investors. The price of a fine ounce of gold reached a record high of $2,431 at the beginning of the year. According to Louise Street from the World Gold Council, the price of gold could continue to rise sharply in 2024.

Ownership of gold has significantly increased among younger Germans, Generation Z, who are increasingly discovering gold as an investment. According to Jens Kleine, study author and member of the Research Center for Financial Services at Steinbeis University, this reflects the direct experiences of this generation with high inflation rates.

The study also illustrates the ongoing trend towards physical gold investments in Germany, regardless of fluctuating market prices. This is evident not only in the private sector but also in the institutional area, where inventories of physical gold have decreased but still remain significant.