Germany monetary gold position
Germany monetary gold position stood at 397,205 EUR million in Sep 2026, according to Deutsche Bundesbank. It is one of the indicators in the Bundesbank external position and reserves table (Value · Monthly), with a complete series running from Dec 1998 to Sep 2026. The complete series with an interactive chart, free to download.
This indicator in the Bundesbank external position and reserves table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| (mthly.), Total, Positions | 487,498 | 502,625 | 469,982 | 469,429 | 507,009 | 513,150 | 518,687 | 562,209 | 545,341 | 481,795 | |
| (mthly.), Monetary gold, Positions | 397,205 | 413,877 | 380,411 | 380,732 | 418,979 | 426,202 | 430,173 | 475,489 | 459,239 | 395,215 | |
| (mthly.), Other reserve assets (currency, deposits, securities, financial derivatives and other claims), Positions | 34,162 | 33,403 | 34,118 | 33,128 | 32,988 | 32,215 | 33,223 | 32,170 | 31,867 | 31,851 |
Understanding germany monetary gold position
The stock of gold bullion held as a financial asset by the monetary authority forms this specific slice of the reserve base. It exclusively comprises physical bars and coins held in secure vaults, alongside unallocated gold accounts, provided they meet strict international purity standards. It strips away all foreign currency deposits, bonds, and institutional drawing rights to isolate the sole reserve asset that carries no corresponding liability on another entity's balance sheet. This makes it a unique, zero-counterparty-risk component within the broader external portfolio, fundamentally distinct from the fiat-based financial instruments that dominate the rest of the ledger.
Month-to-month volatility in this series is heavily dominated by global commodity price swings rather than physical purchases or sales. Analysts typically strip out these non-transactional valuation adjustments when assessing actual policy shifts, making secondary tables detailing sheer volume changes vital for a complete picture. Comparing sequential end-of-period positions reveals immediate domestic wealth effects triggered by the global trading environment. Longer timeframe assessments, rather than strict year-on-year math, help gauge strategic shifts in reserve asset composition, as authorities rarely trade physical bullion on a frequent, seasonal basis.
Frequently asked questions
- Does this figure include gold held by private domestic banks?
- The metric strictly counts bullion held by the central banking authority as part of official international reserves.
- How is the physical gold valued for this statistic?
- Holdings are marked to market using prevailing global gold prices converted into the domestic reporting currency.
- Does jewelry or industrial gold appear in this measure?
- Only investment-grade bullion meeting standard purity requirements qualifies for inclusion in official monetary accounts.