The expert pointed to the growth of investor confidence due to gold and foreign exchange reserves
- Новости
- Society
- The expert pointed to the growth of investor confidence due to gold and foreign exchange reserves
The growth of Russian gold and foreign exchange reserves indicates the economic stability of the state and increases investor confidence. Alexander Safonov, Doctor of Economics, Professor at the Financial University under the Government of the Russian Federation, told Izvestia about this on October 8.
According to the Central Bank, Russia's international gold and foreign exchange reserves rose to a record high of $713.3 billion by October 1. The main factor in the increase in value was an increase in the price of monetary gold in reserves by $27.2 billion to $282.2 billion.
"This expands the opportunities for investment inflows and characterizes the country as an economically sustainable agent. The risks associated with default are minimal, and the risks associated with fluctuations in the exchange rate of the national currency against other currencies are also minimal," the expert explained.
Safonov recalled that gold itself is a valuable resource, which is why it has a very high liquidity. He stressed that in the current geopolitical and macroeconomic conditions, betting on precious metals is absolutely justified.
"You can't ban the circulation of gold. It is used not only in the framework of trade, gold is necessary for the production of components of the electronic industry. Therefore, it is impossible to impose sanctions on gold," the political scientist concluded.
On the same day, it became known that Russian gold and foreign exchange reserves had grown to a record high of $713.3 billion by October 1. It was clarified that on September 1, the indicator was kept at around $689 billion. The main factor in the increase in value was the increase in the price of monetary gold in reserves.
All important news is on the Izvestia channel in the MAX messenger.
Переведено сервисом «Яндекс Переводчик»
