In Russia, retail demand for gold jumped 37 percent in 2020 compared to 2019.

During the coronavirus pandemic, Russians bought five tons of gold, in 2019 this figure was about 3.7 tons. The expert explained this trend by an increase in the price of precious metals, the depreciation of the national currency and geopolitical uncertainty.

Fitz is confident that the increased demand for gold will continue this year. However, experts see risks in the strong volatility of the precious metal and the instability of its trends. The asset is currently trading at $1.6 thousand per troy ounce. According to analysts, in the next two years, its price may reach $2.5-3 thousand.