The price of the gold sovereign in Greece has soared to a record high of €922.46, according to the latest pricing bulletin released by the Bank of Greece. The surge mirrors the global rally in gold, which has surpassed the historic threshold of $4,000 per ounce for the first time, currently trading around $4,060.
The Bank of Greece reported that the buying price for a British gold sovereign of 0.9166 fineness now stands at €787.31, while the selling price for older coins and pre-1973 Elizabeth II issues has reached €922.46. Later issues, minted after 1974, are priced slightly lower at €913.93. Imperfect or underweight coins fetch less, with a lightweight sovereign bought at €752.68 and sold at €849.70.
The sharp rise reflects broader global uncertainty and investor anxiety. As inflationary pressures persist, geopolitical tensions intensify, and expectations grow for further U.S. Federal Reserve rate cuts, investors are increasingly turning to gold as a safe haven. Since the beginning of the year, gold prices have climbed more than 50 percent—one of the most remarkable performances in recent economic history.
Analysts have compared the current climate to the 1970s, when waning confidence in the U.S. dollar led to a dramatic surge in gold prices. Reflecting this sentiment, Bridgewater Associates founder Ray Dalio recently recommended that investors allocate up to 15 percent of their portfolios to gold, challenging the traditional 60-40 investment model split between equities and bonds.
Despite suggestions that the rally might eventually stabilize, demand for gold remains robust. In Greece, the gold sovereign has come to represent not just an investment asset but also a form of wealth preservation—an emblem of growing unease about the stability of the global financial system.
