Izvestiya of Saratov University.
ISSN 1994-2540 (Print)
ISSN 2542-1956 (Online)

золотой запас

Exogenous Determinants of Hoarding Demand at Gold Spot Market

Introduction. Hoarding demand at gold spot market is mainly determined by non-price factors, which are divided into two large groups: endogenous, associated with the specifics of the functioning of the gold market, and exogenous, reflecting the processes and trends of the external environment relative to the gold market. The article analyzes the external non-price factors of demand for physical gold with hoarding purposes.