Andrey Litvinov

Discussions are still under way on how the entry into force of the third Basel Agreement ("Basel III") will affect the gold market. In addition to changing the requirements for bank capital, Basel III contains two completely new conditions for the liquidity of bank assets: a net stable financing ratio and a liquidity coverage ratio.

According to Bloomberg Intelligence, the yellow metal exchange rate is resuming an upward trend, as evidenced by the lag behind crude oil quotes.

In May, gold and silver prices rose significantly, which was facilitated by several factors, namely, the fall in the US dollar index, a decrease in bond yields and a collapse in the value of cryptocurrencies.