What is the role of gold in Germanys economy?

Judging upon the results of the 1st quarter of 2015, Germany occupies the 3rd place in the top of countries who bought the biggest volume of gold. The amount of purchase was of 33.8 tons of yellow metal. Thus, this European country has come close to such recognized leaders of the gold market as India (2nd place) and China (1st place).

The Securities and Exchange Commission published data stating that in Germany the demand for gold increased by 18% in comparison to the same period of 2014. Nevertheless, the demand by the end of 2014 fell by 7.4% which equals 36.5 tons.

In addition, in the SEC's report it was also stated that the jewelry in Germany sold during the first quarter of 2015 were 1.7 tons.

The first place still belongs to China, in spite of the fact the demand for the precious metal decreased by 8% in comparison to the latest quarter of 2014. The gold reserve of the Asian Giant - including Hong Kong and Taiwan - is of 290 tons, which is almost 30% of the world demand for gold in the 1st quarter of 2015. India occupies the 2nd position with the 18%.

The fourth place goes to US which volume of gold is 32.3 tons.

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