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The Germans are Hoarding Gold

The average German holds close to 6,000 euros-worth of gold.

A study ordered by Heraeus and effectuated by Steinbeis Research Center for Financial Services in Berlin revealed that about one third of the gold held by the German population has been accumulated during the economic crisis, which began in 2008.

The study also told us that among the biggest gold buyers were those Germans who had plenty of cash to spend. In fact, the number of gold investors has been rising constantly eversince the crisis has begun.

On average, every German citizen has around 117 grams of gold. Also, on average - the 177 grams consist of 55 grams of jewelry, 62 grams comprising of bars and coins. The average German holds 5,750 euros-worth of gold.

69 % of all Germans have invested in gold and about half of them hold the metal in their home, while 47 % hold it at a bank or other remote vault.

The poorer persons were more likely to buy gold coins, while the wealthier people are more inclined towards gold bars.

The study claims that if the Bundesbank's holdings were included, then the Germans have gathered 7 % of the World's gold.

Despite all these facts - Germany is one of those very few European countries that have survived the economic crisis pretty well (until early 2013, at least).

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