FRANKFURT (dpa-AFX) - The gold holdings of investors at Deutsche Borse continue to fall significantly. As of June 30 of the current year, 175.5 tons of the precious metal were stored in the company's vaults in Frankfurt, according to Deutsche Borse. This was 23.2 tons less than at the beginning of the year (198.7 tons). Over a five-year period, the stock has fallen by 18.8 tons, while the gold price per gram in euros has risen by a total of 75 percent, Deutsche Borse added.

In the past six months, there have been outflows of gold securities, especially in North America and Europe, as many investors sold their shares at highs, said Steffen Orben, Managing Director of Deutsche Borse Commodities, issuer of Xetra-Gold. "At the same time, the global gold buying spree by central banks continues unabated, especially in Asia." This is driving the gold price to ever new highs - to the detriment of investors who are now missing out on the gold price rally. The gold price in US dollars has risen by a good 20 percent within twelve months, and around 13 percent since the beginning of the year.

Gold does not pay interest or dividends. As interest rates on savings accounts and call money have risen again after the long period of low interest rates, some investors have shifted money around. Precious metals have recently experienced a rally in view of the many crises worldwide and the prospect of a downward trend in central bank interest rates.

Deutsche Borse places new gold in its vault whenever investors purchase the Xetra-Gold bond. One gram of the precious metal is deposited for each unit certificate. Borse Stuttgart also offers such a gold-based security traded on the stock exchange ("Euwax Gold"). At the end of the first half of 2024, the gold holdings held in custody for investors by Deutsche Borse reportedly had a total value of EUR 12.3 billion./als/DP/men