As gold prices shatter records, Greek investors are increasingly turning to gold coins, particularly golden sovereigns, as a safe haven for their wealth.
The surge in demand is fueled by global uncertainty, including escalating conflicts in the Middle East and the upcoming US elections, which have pushed gold prices above $2,700 per ounce.
The Bank of Greece has reported a significant increase in transactions involving golden sovereigns, with nearly 36,000 coins sold and over 4,600 purchased since the beginning of 2024.
The gold rush has seen the value of golden sovereigns soar by 34% this year alone, providing impressive returns for investors. Those who purchased coins last year are now enjoying an 11% profit, while investors who bought in two years ago have seen a remarkable 21.5% return.
With the price of a golden sovereign now at €678.02 for sellers and €567.98 for buyers, the Bank of Greece is taking steps to streamline the investment process.
Investors can now purchase coins with cash (up to €500) or via direct bank transfers (up to €100,000).
As gold's allure strengthens amidst global uncertainty, the market for golden sovereigns in Greece is expected to continue its upward trajectory, presenting a potentially lucrative opportunity for those seeking a secure and profitable investment.