Gold Investment: Just how much gold and silver does Germany have?

Gold Investment - 1 August 2011

The German nation has worked incredibly hard over time to accumulate a wealth of gold assets. Aside from the hard work they have been diligent in terms of savings as well. While some individuals do have gold in their possession, much of it is kept in a rainy day reserve with the Bundesbank. This is done as a precautionary measure against any monetary turmoil that might require the government to use it to recreate a stable currency in the country.

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The nation should have peace of mind in the knowledge that the gold is safely housed in the Bundesbank. One concern is that no one really knows just how much gold there is. An annual report issued by the Bundesbank in 2009 reported that the bank was holding gold to the tune of 3,406,789 or 110 million ounces. Market prices were used to value the precious metal and that was €766.347 for one ounce or €24,638.63 for one kilogram. The Bundesbank balance sheet listed an amount of €83,939 million.

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There is however concern in some quarters in that there have been reports made that there is no gold in the Bundesbank's vault. There is nothing documented in the annual report to allay these fears. The report documents that the bank owns gold to this amount in gold receivables and gold, however no distinction is made between the two assets and neither are there amounts specified for the two different types of assets.

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