Acceleration of the local coronavirus vaccine programme and concomitant slowdown of the third wave of coronavirus in the country, boosted Investors’ confidence in Germany.

Q1 saw boosted demand for physical gold as investors looked for alternative assets and gold caught a safe haven bid as a hedge against the rising inflation.

2021 will be a bullish year for gold, although the enormous hike in 2020 (24,6% per ounce in US Dollars and 14,4% per ounce on Euros) may not be repeated this year.

After a 47% surge in 2020, silver is poised to continue its momentum this year. Most investment analysts and banks’ commodity traders expect silver to trade above $30 an ounce on average.

While Germany already is one of the most important gold markets in the world, it is clear that there still is a lot of potential demand waiting to be untapped, and addressing the different concerns from potential investors is essential to do so.

Considering gold’s position as a safe and liquid asset, the continued accumulation by central banks emphasises the important role of gold to central banks portfolio.