The second quarter of this year has witnessed a substantial increase in gold sales among Dutch citizens, primarily driven by a sharp rise in gold prices, reports gold exchange firm Goudwisselkantoor based on its transaction data. The company noted a dramatic 54% surge in gold purchases over the past year.
April saw particularly heightened activity as individuals sold off gold jewelry and other items, spurred by a significant price escalation in the precious metal. Goudwisselkantoor indicates that the price of gold reached a new quarterly high, currently hovering around €70,000 per kilogram—a notable 20% increase compared to the previous year. This uptick, according to the firm, stems from heightened global demand as countries like China bolster their gold reserves, exerting upward pressure on prices.
In addition to national trends, there has been a noticeable uptick in gold acquisitions as an investment strategy. Director Johan de Ruiter attributes this surge to prevailing geopolitical tensions in regions such as Ukraine and the Middle East, where gold is viewed as a secure and stable asset amidst uncertainty.
Despite recent price stabilization, de Ruiter anticipates sustained high demand, noting a historical trend where gold prices typically receive a seasonal boost during summer months. This pattern, he suggests, is likely to persist throughout this year as well.
