Gold is losing its value: will it lose its role as a defensive asset? October was the worst month for gold since 2008: Exchange prices fell 6.87%, to a low for the year, at around $3,870-$3,900 an ounce, Bloomberg reports. The peak occurred in January 2026, when the metal rose to about $5,595. The underlying demand has not disappeared, notes Rosveksel CEO Osman Kabaloev: global central banks have increased purchases to 321 tons in the third quarter of 2026. This is 42% more than in the third quarter of 2025, and the maximum since the fourth quarter of 2024. The correction is explained by three reasons: US tariffs. Gold does not generate interest income, and the market allows for further tightening of Fed policy. In September, the regulator raised the interest rate by 0.25 percentage points, to 3.75-4%; On October 28, it maintained it, and inflation remained above the 2% target. Against this background, investors give priority to fixed income instruments. Expensive energy resources. Rising oil and other fuel prices threaten prolonged inflation, so central banks may keep rates high for longer. It's a game against gold. earn In 2025, the metal rose in price by about 64% and reached a new historical maximum, after which some investors began to sell. Large-scale selling amid high volatility intensified the fall. What is happening with gold in the Russian market and has it ceased to be a protective asset - read the material on the website. All the experts are here and at Max.

Gold is losing its value: will it lose its role as a defensive asset? October was the worst month for gold since 2008: Exchange prices fell 6.87%, to a low for the year, at around $3,870-$3,900 an ounce, Bloomberg reports. The peak occurred in January 2026, when the metal rose to about $5,595. The underlying demand has not disappeared, notes Rosveksel CEO Osman Kabaloev: global central banks have increased purchases to 321 tons in the third quarter of 2026. This is 42% more than in the third quarter of 2025, and the maximum since the fourth quarter of 2024. The correction is explained by three reasons: US tariffs. Gold does not generate interest income, and the market allows for further tightening of Fed policy. In September, the regulator raised the interest rate by 0.25 percentage points, to 3.75-4%; On October 28, it maintained it, and inflation remained above the 2% target. Against this background, investors give priority to fixed income instruments. Expensive energy resources. Rising oil and other fuel prices threaten prolonged inflation, so central banks may keep rates high for longer. It's a game against gold. earn In 2025, the metal rose in price by about 64% and reached a new historical maximum, after which some investors began to sell. Large-scale selling amid high volatility intensified the fall. What is happening with gold in the Russian market and has it ceased to be a protective asset - read the material on the website. All the experts are here and at Max.