German demand for Krugerrand gold coins explodes

JOHANNESBURG (dpa-AFX) – South Africa’s Krugerrand gold coin should end the year with a new export record, according to the marketing company Prestige Bullion. “In the past twelve months up to the end of November, over 700,000 troy ounces were exported – more than 80 percent of them to Germany,” said Richard Collocott, Marketing Director of the company on the outskirts of Johannesburg, of the German Press Agency. Such a demand has not existed for at least three decades. “We had a very steep export demand,” said Collocott.

He gave the export average of the past five years at just under 450,000 troy ounces. One troy ounce is equivalent to 31.1 grams. During the corona crisis, the gold price only knew the way up – the German most popular gold coin, which came onto the market more than half a century ago, also benefited from this. The Krugerrand with over 60 million copies is the most traded gold coin in the world./rek/DP/stk

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