
Liquidation of gold sovereigns at the Bank of Greece (BoG) last year reached 52,241, up by 14.6 percent from the previous year, 2021, a development attributed to a tightening economic situation due to surging energy prices – which greatly contributed to unprecedented eurozone inflation – as well as high gold prices.
Nevertheless, the figure is a far cry from the 2007-08 period – down by roughly 85 percent.
Conversely, the number of gold sovereigns (the UK bullion) sold by the BoG totaled 11,236.
For 2021, the figure is 45,588 gold sovereigns liquidated, and 6,531 purchased.
Compared with a peak in 2010 – the year that witnessed the first institutional bailout for Greece – purchase of gold sovereigns in the country was down by 94 percent.
Although Greece’s central bank is essentially the only legal point for buying and selling gold sovereigns (along with at least one commercial bank), an “underground” market also exists for buying and selling of such traded coins, which means that only official transactions are recorded.
Liquidated sovereigns’ value was estimated at 20.3 million euros.


Latest News

Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.

Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses

Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.

Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February

Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.

Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)

Santorini Safe and Ready for a Dynamic Tourism Season
Authenticity, cultural heritage, and genuine experiences at the center of Santorini's new promotional campaign

Electricity Bills: Greece Announces Reduced Tariffs Schedule
Greece will now offer lower electricity rates between 11:00-15:00 and 02:00-04:00

Chevron Confirms Eyeing Natural Gas Exploration South of Crete
Chevron recently declared its intent to explore a third area, south of the Peloponnese.

Evangelos Marinakis: A time of change from which shipping can benefit
Speaking at the 19th Annual Capital Link International Shipping Forum Evangelos Marinakis stressed the challenges that shipping faces today