When asked about how the situation between Russia and Ukraine affected the market Habluetzel noted “Russia physically delivers about 10 percent of the worldwide market in gold.
When asked about the demand due to the conflict he said “The demand for physical gold has been high since the start of the pandemic in spring 2020.
Looking at recent activity he said “Larger clients have been selling gold for the last three or four months.
But it is not likely as often and as strongly as thought, not least given the high levels of debt in the U.S.