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Eastern Economic Forum

Polyus sees great demand for gold in the world

According to CEO Alexey Vostokov, representatives of the global industry see that gold attractcs not only central banks, but also Asian investors

VLADIVOSTOK, September 4. /TASS/. Gold miner Polyus sees a great global demand for gold in the world, Polyus CEO Alexey Vostokov told TASS on the sidelines of the Eastern Economic Forum (EEF 2024).

"In general, there is a very great demand for gold around the world, judging by the growth of its prices," he said.

According to Vostokov, representatives of the global industry see that gold interests not only to central banks, but also to Asian investors. "There is great demand from Chinese investors, retail investors, who are starting to shift from real estate and the local stock market to gold. Experts also see demand from Western investors, including American ones, who have begun to actively buy gold," he said, noting that there is also demand from exchange-traded ETFs tied to gold.

Earlier, the price of gold futures with December delivery on the Comex exchange (a division of the New York Mercantile Exchange) updated its historical maximum, rising above $2,550 per troy ounce.

The Eastern Economic Forum (EEF-2024) is underway on the campus of the Far Eastern Federal University in Vladivostok on September 3-6, 2024. The main theme of the EEF in 2024 is "Far East 2030. Combining strengths to create new potential."

The EEF is one of the largest international conferences in Russia. It has been held in the Primorsky Region’s Russky Island in Vladivostok since 2015. The Forum is the initiative of Russian President Vladimir Putin, who decreed that the event be held annually.

The forum's objectives and goals include promoting the accelerated growth of Russia’s Far East region; assessing its potential for exports; expanding international cooperation in the Asia-Pacific Region; showcasing the investment appeal of the region, its steadily progressing territories, and the Vladivostok free port.

The Roscongress Foundation has served as the Forum’s organizer since 2016. TASS is the general information partner of the EEF.

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