Frankfurt am Main, 23rd December, 2014 – Compared to the previous months, German investors have bought significantly more precious metals in November. Both the demand for gold and for silver have risen. Degussa estimates the total sale of gold in November to be around 15 tons, with a value of about 450 million Euro, approximately 40% above the monthly average this year. Despite the record month of November, Degussa expects a slight decline in total for the year 2014 in Germany, from 121 tons in 2013, down to 116 tons.
The high demand for gold in the past months has also elevated the Degussa business itself. In November, Degussa was able to record the strongest revenues since 2011. The high demand for investment metals was evident in the Degussa branch offices, as well as in its online store. Gold items, especially medium-sized bars, weighing an ounce, one hundred grams or up to 250 grams, are still extremely popular. Silver is also very popular, shown by the fact that one ounce investment coins from Canada and Australia were bought very frequently.
„The most important reason for institutional and private investors to buy precious metals is the prevailing insecurity concerning the further development of the economy and financial industry“, explains Wolfgang Wrzesniok-Roßbach, CEO and speaker for the Degussa management. „We have not noticed any „panic buying“, which we did when the financial crisis was at its peak. Investors now prefer to shift money within their portfolios. The amount of people who invest for the first time is remarkably high as well“.
The demand for gold and silver within the last weeks was, according to Degussa, also triggered by the temporary price drop. Wolfgang Wrzesniok-Roßbach states: „Nowadays investors are well-informed and make sure to take advantage of a reasonable purchase price“.
The increased demand for precious metals led to considerably longer delivery periods on the side of the gold producers and state mints, since the demand also grew stronger on the US and Asian markets. The shortage of supplies of the South African Krugerrand led to a temporary doubling of the premium, which as the gold price fell, caused a slower dropping of coin prices than the international gold price noted in London.
„Degussa is not affected by the current shortages“, says Wolfgang Wrzesniok-Roßbach. „Through our expanded stock and the exclusive reservation of production capacity with the manufacturers, we can always guarantee to deliver the items on time“.
The other Degussa business branches are seeing significant developments as well, for example the increasing business in scrap gold. There is also a noticeably higher demand for the Degussa storage service, since many new customers take advantage of a centralised, but still customer-assigned, storing of precious metals. Hence almost all customers favour domestic storage.
About Degussa Goldhandel (Gold trading)
Degussa as a brand is a synonym for quality and reliability in the field of precious metals. Degussa Goldhandel GmbH has been active in the precious metals market since 2011. The head office of the company is located in Frankfurt am Main. Degussa products and services are available at branch offices in Stuttgart, Munich (2), Frankfurt, Cologne, Hamburg, Berlin, Nuremberg, Hannover and Pforzheim as well as at Degussa Goldhandel AG in Zurich. The comprehensive portfolio of Degussa is completed by an online shop, available to customers 24 hours a day, 7 days a week, which offers constantly updated prices, high availability and fast processing. In August 2014, Degussa Group acquired its own precious metals refinery in Pforzheim, Germany. The refinery is active in the reprocessing of scrap precious metals as well as the production of upstream products for the jewellery industry.
Products and Services:
Apart from its worldwide known precious metal bars made of gold, silver, platinum, palladium and rhodium with the characteristic diamond-shaped Sun / Moon logo, Degussa also offers a wide range of bullion and collector coins. Top-class experts are available to customers in the field of numismatics for the assessment as well as for sale and purchase of historical coins ranging from antiques to those of recent times. Clients have the possibility of storing their precious metals stocks at Degussa“s high-value storage facility and at certain branches Degussa offers safe-deposit lockers. Furthermore, Degussa has a „VAT-free“ storage facility which is also available to its customers.
Purchase of scrap precious metals:
Jewellery no longer being used, silverware, damaged precious metal bars and coins as well as industrially utilized precious metal products are purchased at reasonable prices and recycled.
Firmenkontakt
Degussa Goldhandel GmbH
Julia Kramer
Kettenhofweg 29
60325 Frankfurt am Main
+49 69 860068-285
+49 69 860068-222
julia.kramer@degussa-goldhandel.de
http://www.degussa-goldhandel.de
Pressekontakt
fr financial relations gmbh
Jörn Gleisner
Louisenstr. 97
61348 Bad Homburg
+49 (0) 6172/27159-0
+49 (0) 6172/27159-69
j.gleisner@financial-relations.de
