Return of the Golden Age

In Germany, gold is now available from vending machines, Gold to Go, in airports and railway stations. Shoppers can buy a 1-gm wafer ofgold or a larger 10-gm bar. Seeking safety for their savings, individuals purchased 150 tonnes of gold, mainly in the form of coins. Investors poured money into special funds- exchange-traded funds (ETFs) - which pool investor monies to buy over 1,000 tonnes of gold. Having earlier sold off their holding, some central banks are rebuilding gold reserves. The world has remembered JPMorgan's words to Congress in 1912, "Gold is money. Everything else is credit."

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