An expert predicted a rise in gold prices

Ongoing concerns about the growing U.S. government debt also make gold attractive to investors: central banks are seeking to diversify their reserves and reduce dependence on the dollar, which is why the gold price is expected to continue rising in 2025, Capital Lab partner Evgeny Shatov told Izvestia on January 31.

"The cost of gold reached $2798.59 per ounce, surpassing its previous historic high set in October 2024. The jump came after U.S. President Donald Trump said he would follow through on imposing 25 percent tariffs on imports from Canada and Mexico on Feb. 1. He also threatened China with tariffs, without specifying the level," Shatov explained.

He said a weaker dollar also makes gold more attractive to investors who use other currencies, as gold is priced in U.S. dollars.

"The weakening of the dollar came after an expected rate cut by the European Central Bank and recent data that showed that inflation-adjusted gross domestic product in the US grew at an annualized rate of 2.3% in the fourth quarter after rising 3.1% in the previous three-month period," Shatov summarized.

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Earlier, on January 18, Evgeny Shatov told "Izvestia" about the current investment instruments. According to him, gold and silver retain their role as protective assets in conditions of geopolitical instability and inflationary pressure. These instruments can become an important part of a diversified portfolio.