In the news

Gold Investor, September 2017

19 September, 2017

In the news

50th anniversary of the Krugerrand

Kruggerrand sales are expected to reach their highest level since the 1980s, amid predictions that demand will be 15 per cent to 20 per cent ahead of last year. Already highly popular, 1.1 million ounces of the South African coins were sold in 2016, equivalent to a 26 per cent share of the global gold bullion coin market.

The Kruggerand’s growing appeal comes exactly 50 years after the coin was launched in 1967. Since that time, more than 53-million ounces of gold, or over 60-million pieces, have been sold in the form of Krugerrands. Originally sold for 27 rand (then worth $35), an ounce of gold is now worth around 17,000 rand ($1,320).

Early home-coming for German gold

Germany has repatriated more than 670 tonnes of gold that it transferred abroad during the Cold War for security reasons. The process took four years to complete, involving 53,780 gold bars, each weighing 12.5kg. In total 374 tonnes of gold was returned from the French central bank in Paris and a further 300 tonnes was shipped back from the New York Federal Reserve. Initially expected to take until 2020, the plan was completed three years ahead of schedule.

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