Citizens are back for gold

17 September 2023 г. 5 minutes of reading

Banks note the increased demand for gold bars on the part of the population. Some market participants in informal conversations even note their deficit, and retail investors are buying them, seeing gold as a "safe harbor". However, the largest banks assure that they have enough bullion bars, and the shortage may arise at small players who buy gold from manufacturers under the orders of clients, without forming stocks.

"We see an increase in demand for gold bars not only in the last two weeks, but also for a wider period, - specified in Tinkoff-bank.- For the last three months we have sold twice as many bars than for the same period last year". Gold protects capitals from fluctuations in the currency market when the ruble is unstable, explained in the credit organization. Tinkoff Bank believes that the interest in gold as a protective asset among the population could spur "the growth of inflation expectations.