By Vasilis Kaltsas

Is gold going up? The price of the gold pound goes up. The gold rally is intertwined with the sharp rise in the price of the pound.

With its price below 500 euros about two years ago, the golden pound has taken its up.

Specifically, on Tuesday 10/6, the sale price of the Golden Pound from the Bank of Greece exceeds 772 euros, while its purchase price from the bank reaches 659 euros. On Friday, its price reached 785 euros.

Prices are for the traditionally more precise golden pound of old cutting, while the golden pound Elizabeth edition from 1974 onwards are slightly lower.

In recent years, many Greeks have taken out the pounds from the “treasures” to boost their income.

Specifically, in 2022 the BoG bought 52,241 gold pounds from individuals, and sold to individuals 11,236.

In 2023, he bought 39,435 and sold 10,798, in 2024 he bought 48,328 pounds and sold 7,182, while this year in the first quarter he bought 11,150 and sold 1,732 gold pounds.

The rally of gold

In the last twelve months gold has been uphill.

With more than 43% in the last year and more than 22% in the last six months, the price of gold has climbed over $ 3,300.

If it happens that many analysts are likely to be due to increased geopolitical uncertainty, it is not excluded that gold will soon exceed $ 3,500, dragging the price of the gold pound.

The ongoing war in Ukraine and Trump’s trade duties create an uncertain financial framework, where traditionally safe shelters like gold shine.

Documents for those who wish to buy and sell gold pounds from the BoG

Gold pound market transactions are carried out:

– At 14 Stadiou Stadium, Athens, they take place at 210 3202788.
– At the Thessaloniki store, Tsimiski 4, from early June 2023, by telephone appointment at 2310 591157, 2310 591158.
– At the Heraklion Store, August 25, 25, from early February 2024, by telephone appointment at 2810 242532.
– At the branch of Patras, Ag. Andreou 49-51, after a telephone appointment, at 2610 639744, 2610 639742.

Any transaction, regardless of the amount, is required to display a) of the police ID card or the passport in force and (b) an original public document (eg clearing) or a recent Utilities Account, where the customer’s tax ID is listed.

The transactions of the gold pounds of England in the face of the Bank of Greece receive a supply of 5 ‰ with a minimum of 3 euros.

For transactions of up to EUR 10,000, including the amount of the commission, the prices of the prices issued by the BoG and which is posted on its website apply. Each price card is valid until the newer issue. In the event of a transaction of up to EUR 10,000, including a bank check, the amount of the check should not exceed EUR 9,500 (the balance is paid in cash).

For transactions of more than EUR 10,000, the price is determined on the basis of the current gold price at the time of the transaction. For transactions over 500 euros, the payment is made to the Gise with immediate credit transfer or by submitting a bank check to order the customer or with a POS card.

For transactions of more than EUR 15,000, regardless of whether they are carried out in a lump sum or in part by the same customer, in the case of a natural person, they are also required:

  • The last income tax note.
  • This residential address, confirmed by a recent Utility Organization account or a residence agreement deposited in a public financial service (DOU).
  • Occupation and this Professional Address (employer certificate or latest payroll copy or professional identity or social security entity).
  • A applicable residence permit for foreigners (nationals outside the EU).

The above documents are submitted to the original, as required by the legislative framework for the prevention of money laundering and terrorism funding.