Military conflicts, US customs policy, and the hype surrounding artificial intelligence (AI) are causing concern among people in Germany. Two-thirds (67 percent) feel insecure in the current environment and are concerned about their assets.

At the same time, confidence in gold is growing, particularly among the younger generation. According to the representative study 'Investment Barometer 2025'* by Deutsche Börse Commodities GmbH, gold is the most popular asset class among 25- to 34-year-olds. Currently, more than half of this age group (53 percent) can imagine investing in gold. Overall, many Germans see the precious metal as a valuable addition to their long-term investments, including retirement provision (29 percent), protection against crises and inflation (26 percent), and asset accumulation (15 percent).

Gold moves into the top 3 investments

Just under a third (31 percent) of Germans are not at all worried about their assets. Accordingly, safe and stable investments are becoming increasingly important: For the first time since 2022, gold has re-entered the top three most popular investments. When asked how they would invest 25,000 euros, more than one in four people (27 per cent) opted for gold, which is almost as popular as savings accounts (31 percent) and funds/ETFs (28 percent), and more popular than traditional fixed-term deposits (26 percent). Meanwhile, real estate (16 percent) and stocks (15 percent) are losing relevance, and bonds (7 percent) and cryptocurrencies (6 percent) play only a minor role. When asked about the most trustworthy investment, savings accounts are in the lead with 21 percent, followed by gold and funds/ETFs with 14 percent each.

Young people in Germany trust in gold

Among 25- to 34-year-olds, gold is the most popular investment. More than a third (35 percent) would choose it with an initial investment of 25,000 euros. Gold also ranks first for them in terms of trust (18 percent), ahead of savings accounts (14 percent), fixed-term deposit accounts, and real estate or funds/ETFs (both 13 percent). When it comes to long-term investments, the younger generation is leading the way. Almost half of people between 25 and 29 (48 percent) consider gold to be relevant for retirement provision, which is significantly higher than the overall average (29 percent). Furthermore, one in five (21 percent) in this age group cite sustainability/ESG criteria as a reason for investing in gold in the long term, compared to only 8 percent of all respondents.

Stability and security in the investment portfolio

"The investment barometer shows that a consistent majority of Germans perceive the situation on the financial markets as uncertain,” says Steffen Orben, Managing Director of Deutsche Börse Commodities GmbH. “At the same time, the representative sentiment indicates a growing shift towards gold, which has increased in value by over 50 percent so far in 2025. Young people in particular are increasingly relying on gold as it is one of the most stable asset classes, with a positive price development over the years. Experts recommend including five to ten percent of gold in a portfolio to secure assets."

Currently, almost half (45 percent) of Germans can imagine investing in gold. For medium- to long-term investors, bearer bonds such as Xetra-Gold® provide an easy alternative to a physical purchase. Xetra-Gold is a cost-efficient security that enables tax-free profits with a holding period of more than one year. Each security is backed by physical gold at a ratio of 1:1. If necessary, it can also be delivered.

* About the Investment Barometer 2025 study: On behalf of Deutsche Börse Commodities GmbH, the opinion research institute Verian (formerly Kantar Public) surveyed a representative sample of 1,023 people in Germany. The survey was conducted in the period from November 20 to 28, 2025.

Further information can be found at www.xetra-gold.com.

Editorial note:
We kindly provide you with printable photos of Steffen Orben and Dr. Michael König.

Media contact:
Andreas von Brevern
+49-69-2 11-1 42 84
media-relations@deutsche-boerse.com

About Xetra-Gold

Xetra-Gold® (ISIN: DE000A0S9GB0) is a bearer bond issued by Deutsche Börse Commodities GmbH, 100 percent backed by gold, which securitizes a delivery claim to physical gold. Each individual Xetra-Gold note grants the investor the right to require the issuer to deliver one gram of gold. For Xetra-Gold notes, the Issuer maintains a corresponding amount of gold in physical form and, to a limited extent, in the form of book gold claims. In the form of a security, Xetra-Gold is fungible and as easily transferable as a share. In addition to Germany, Xetra-Gold is authorized for public distribution in Denmark, Finland, Luxembourg, the Netherlands, Norway, Austria, Sweden, and the United Kingdom. The complete and legally binding information on the Xetra-Gold bearer bonds can be found in the key information document and the prospectus together with any supplements and the terms and conditions of issue. Investors can obtain these documents free of charge from Deutsche Börse Commodities GmbH, Mergenthalerallee 61, 65760 Eschborn, Germany, or download them from www.xetra-gold.com/downloads.

About Deutsche Börse Commodities GmbH

The Xetra-Gold Issuer Deutsche Börse Commodities GmbH with its registered office in Eschborn is a joint venture of B. Metzler seel. Sohn & Co. KGaA, Commerzbank Aktiengesellschaft, Deutsche Bank AG, Deutsche Börse AG, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Umicore AG & Co. KG and Vontobel Beteiligungen AG. Umicore AG & Co. KG is a subsidiary of Umicore S.A., which operates several gold refineries worldwide and produces gold bars. The issuer's sole business purpose is to provide the market with the 100 percent gold backed Xetra-Gold bond and to enable efficient, transparent, and cost-effective trading of this physical form of gold securitization.