The price of a gold sovereign reaches 600 euros, and the price of gold, according to analysts, may well reach $3,000 per ounce in the coming months.
One newspaper report states the following: “Gold appears to be reaffirming its role as a safe source of investment. The selling price of the old-style British gold pound has risen today to a 16-year high of €613.42. And at €509.17 is the market price that the country’s central bank itself offers to those , who is being liquidated. At the beginning of April, the market price of the gold pound was 580 euros, and in December 2023, individuals received 431.38 euros per piece from the Bank of Greece (BoG) and bought from it at 519.80 euros.”
How much do those who invested in gold pounds earn?
It's worth noting that if someone invested €10,000 in gold pounds, they would earn €1,801 between December 2023 and April 2024. Likewise, someone who waited for prices to fall would pay €1,801 more to buy the same amount as someone who bought them in 2023. According to one of the sites, “The gold rally is also particularly significant in Greece, where many households keep gold pounds sterling in their coffers, the value of which rises and falls depending on the price of the precious metal.”
The gold sovereign in its current form weighs 7.98 grams of .999 gold.
Active sale
At the same time, there are many who take advantage of the opportunity and sell their gold pounds. According to media reports, “in the fourth quarter of 2023, individuals bought just 2,336 gold pounds from the central bank, despite consecutive gold records, while they sold 10,046 gold pounds to the Bank of Greece. In total for 2023, Bank of Greece sales to individuals amounted to 10,798 gold pounds pounds, and Bank of Greece purchases from individuals amounted to 39,435 gold pounds.
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