Andrey Litvinov

The gold market suffers from a lack of upward trend due to an increase in interest rates. This circumstance forced one Canadian bank to lower its forecasts for gold and silver quotes.

In China, the demand for precious metal has increased over the past two months, despite the introduction of quarantine restrictions in some cities. The indicators of the withdrawal of precious metal from the Shanghai Gold Exchange in August and the volume of imports for July increased.

The gold market suffered due to the aggressive monetary policy of the Fed, which led to higher bond yields and the American currency index. However, the French bank Société Générale believes that it is better not to sell gold from its portfolio against the background of current conditions, given the high level of instability.