Poland among the five European countries with the highest sales of gold

According to the World Gold Council data, the global demand for physical investment gold in the form of bars and bullion coins in the third quarter of 2021 amounted to 262 metric tonnes and increased by 18 percent compared to the third quarter of 2020, mainly due to the excellent results in the Chinese, Indian, German and American markets. This increase was mainly due to the strong demand for bars, which amounted to 178 tonnes, which accounted for as much as 68 percent of total sales of physical investment gold in the past quarter. Cumulatively for the three quarters of 2021, the demand increased to the level of 857 tonnes, which is the highest result for the same periods since 2013. The Council does not provide exact data on the Polish market, but from the analysis of the Treasury Mint and information obtained from the largest gold producers, Poland is at least in the top five European countries when it comes to retail sales of this metal. This year, gold sales in our country should significantly exceed 10 tonnes.

"It is worth noting that the German-speaking countries, whose sales are taken into account by the World Gold Council, are also the main sources for retailers in Europe. As we are told by the largest European producers and wholesalers, sales to Poland are at a level never before seen and clearly exceed the amounts from other countries. In Poland, the popularity of gold as an investment target is growing due to rampant inflation, but also the liquidity of this asset," Jarosław Żołędowski from Treasury Mint, said.

(WBJ)