As gold prices reach record highs, more Greeks are selling gold pounds to meet urgent financial needs, resulting in long waiting lists at the Bank of Greece for transactions.
As the price of gold experiences a continuous upward trend, reaching historic highs, many Greeks are opting to sell their gold pounds, viewing them as a viable investment. However, the prohibitive prices of purchasing new gold pounds have led to a situation where more individuals choose to sell instead, often to address immediate financial needs. The Bank of Greece has reported that in 2025, there was a significant increase in gold pound sales compared to purchases, with citizens selling a total of 40,031 gold pounds throughout the year.
The Bank of Greece's data reveals the scale of these transactions, highlighting that in the first quarter of 2025 alone, 11,150 gold pounds were sold, with similar numbers reported in the following quarters. This trend of selling gold pounds continues to escalate, prompting the Bank to implement appointment systems to manage the influx of demand from sellers, creating long waiting lists for those looking to liquidate their investments.
As citizens line up to sell their gold, the implications of this trend reflect broader economic challenges faced by many Greeks. The high demand for selling, coupled with the soaring prices, illustrates a precarious balance between investment and necessity, leaving many to wonder how sustainable this trend is for their financial wellbeing as they navigate urgent financial situations.
