German demand for gold spikes by 20% in Q1 2015 - WGC
Bonn-Germany (May 15) The World Gold Council report released on Thursday said demand for total gold bar and coins spiked by 20% in Germany during the first quarter from the year before.
The gold sales have risen dramatically because the European Central Bank (ECB) has embarked upon $1.3 trillion QE program which has raised concerns among the Germans that the Central bank money-printing may trigger spikes in prices in the near term, driving inflation fears.
There are also worries over Greece debt repayments and the never-ending crisis there, and the tensions between Russia and Ukraine.
The World Gold Council said the first three months of 2015 represented the strongest start to a year for European gold demand since 2011 -- the year of the sovereign debt crisis that threatened to tear the Eurozone apart.