The economist pointed to the depressed state of consumer demand in the West

Consumer demand in Western countries is in decline. Vasily Koltashov, an economist and head of the Center for Political Economy Studies, shared this opinion with Izvestia.

Speaking about the rise in gold prices, the economist stressed that this process primarily reflects the depreciation of the dollar, that is, a drop in its real value.

"This means that consumption in the West as a whole is in a depressed state, if not in a state of destruction. <...> They can't consume like they used to. Hence the low global prices for oil, commodities and many others," Koltashov explained.

The situation of price "depression", according to the expert, persists in the food market. At the same time, he admitted that in the future circumstances may turn in the opposite direction.

In turn, economist Alexey Rodin admitted that the price of gold could rise further, but doubted that it would rise at a "rapid" pace in the near future.

"I think the dynamics will slow down. Gold is not an asset that is always growing. It grows when people feel some kind of anxiety," the expert concluded.

For all that gold: deposits in precious metals will make them more attractive

This will be facilitated by the abolition of VAT on income from these instruments.

A day earlier, Russian President Vladimir Putin noted the recession in the eurozone economies. At the same time, the global economy as a whole is developing, especially in the Asia-Pacific region, the head of state noted. According to him, China also remains the engine of growth.

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