Andrey Litvinov

China is the largest gold producing and consuming country in the world. Every year, it sells more than 100 tons of yellow metal products worth tens of billions of dollars. The coronavirus pandemic had a negative impact on the gold market in the Middle Kingdom.

In the first three months of this year, an ounce of yellow precious metal fell by almost $300. Gold quotes decreased by 13%, from 1943 to $1691. This is the most depressing quarterly indicator since 2016.

Yellow metal is one of the most important protective assets. Recently, the popularity of precious metal has grown rapidly. Investors are willing to buy it in times of pandemic and economic instability.