Bank of Greece reports surge in gold lira sales by individuals

Data from the Bank of Greece (BoG) reveals a significant shift in gold lira transactions, with Greek individuals selling nearly eight gold liras for every one they purchase. This marks a sharp change from a decade ago when the ratio was two sales for every one purchase.

In the first nine months of 2026, private individuals sold 21,014 liras to the BoG while purchasing only 2,706. This trend follows a long-term contraction in the gold lira market; total transactions through the central bank have fallen by 63.2% over the last ten years, dropping from 64,440 to 23,720 pieces.

Despite recent fluctuations in gold prices—which fell from a high of 4,452 euros per ounce in late February to approximately 3,737 euros—sellers are realizing significant profits while buyers remain hesitant. The BoG's purchases of 21,014 pieces represent the lowest levels for this period since 2011.