The expert spoke about the reason for the increase in the value of gold futures

Gold prices continue to rise, but a correction is possible in the coming months. This opinion was shared by Vitaly Manzhos, an expert on the stock market at BCS World of Investments, in an interview with Izvestia on April 1.

"From a technical point of view, we are seeing a continuation of the long-term upward trend in gold futures. Growth has accelerated over the past three weeks. Such a strong quarterly trend is observed for the first time since 1986," the expert noted.

According to him, one of the key growth factors was investor concerns about the tightening of the US tariff policy.

"Alarming reports about further increases in import duties, in particular on cars, serve as an informational incentive to activate purchases. The average global cost of gold mining (AISC) approached $1.5 thousand per ounce, which is more than twice lower than the exchange price. From a fundamental point of view, such a high exchange rate looks overvalued," the expert explained.

He also drew attention to the risks, as investment demand, which supports prices, can either increase or weaken. In addition, gold purchased for investment is not consumed, which means it can return to the market at any time, increasing supply.

"Technical resistance is possible in the region of $ 3.2–3.3 thousand per troy ounce, after which a significant correction is possible," concluded Manzhos.

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