We Are Pleased to Announce the Founding of the Hungarian Gold Dealers Association

The Hungarian Gold Dealers Association has been established. By unanimous vote of the membership, Gergely Juhász, CEO of Conclude Befektetési Zrt. and founder of Goldtresor, was elected President of the Association.

On 3 December 2025, the Hungarian Gold Dealers Association was officially founded, bringing together participants in Hungary's investment gold market. The NEKSZOE Association, which unites Hungarian goldsmiths and jewellers, joined as a supporting member, and Pénzverő Zrt., wholly owned by the Magyar Nemzeti Bank, was present at the founding meeting as an observer.

The Association represents more than half of the domestic investment gold market, estimated at approximately HUF 100 billion, with further significant market participants expected to join in the near future.

The membership does not represent investment gold dealers alone; participants from the pawnbroking sector, precious metals recycling and refining, and jewellery manufacturing are also part of the organisation.

In his inaugural address, Gergely Juhász highlighted that the presidency's primary task is to prepare members for regulatory changes. In the longer term, he considers the development of the domestic gold market a key priority, including the potential creation of a bullion coin with investment gold status, possibly issued by the Magyar Nemzeti Bank or Pénzverő Zrt., the distribution of which and the creation of secondary market liquidity could be opened to Association members.

The statement also emphasises that, as part of strengthening the financial sovereignty of the population, it is important that people invest not only in so-called "paper gold" but increasingly in real, physical gold.

Gergely Juhász put it this way: It would be desirable if the current level of physical gold investment, which is statistically barely measurable, were to represent a more significant share of the foreign currency component of liquid savings.

Portfolio.hu was present at the founding meeting and published a detailed summary of the event, which is available by clicking here.