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Gold Reserves
3,351.6t
Reserve Value
$312.49B
% of Reserves
72.5%
YoY Change
+1.3t
Est. Purchase Cost
$121.21M
Gold/Currency Ratio
9.70%
Germany is accumulating gold to reinforce its reserve portfolio amid Europe's geopolitical uncertainties and energy dependencies. As a key Eurozone player, it seeks to hedge against inflation and diversify away from over-reliance on US assets. This buying aligns with broader central bank trends toward durable assets.
Notable Activity
Germany increased reserves by 1.3 tonnes year-over-year.
Key Motivations
What this means
The gold/currency ratio measures how much of a country's money supply is "backed" by gold reserves. A higher ratio suggests stronger implicit gold backing of the currency. This country has relatively strong gold backing compared to peers.
Bullion Fear & Greed Index
Was the market fearful or greedy when Germany was buying? Central banks often buy gold during market fear — the opposite of retail.
Gold/Silver Ratio
Central banks buy gold, not silver. Track the gold/silver ratio to understand relative value between the two metals.
Mining ETFs
Central bank buying supports gold prices, which flows through to mining company valuations. Track GDX, GDXJ, and miner sentiment.
Data Sources
Gold holdings from IMF International Financial Statistics (IFS) and World Gold Council. M1 money supply from FRED and IMF. Geopolitical context enriched monthly. Last updated: 2026-03-31.