The economist announced increased volatility in the precious metals market

There is increased volatility in the precious metals market after a large wave of liquidation of traders' positions. This opinion was expressed by Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research Department, in an interview with Izvestia.

"Today, gold quotes are showing a recovery in the correction range of $4,600-5400 per troy ounce, while the price of an ounce of silver has set a medium—term trading range of $80-115," he said.

The active growth phase of the precious metals market has ended, and the specialist said he expects a correction to develop before the beginning of spring.

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On February 2, Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research Department, predicted the movement of the ruble exchange rate this week in the range of 74.50–79.50 per dollar, 88-93 per euro and 10.70–11.40 per yuan. He noted that the recovery of the US dollar in the global foreign exchange market has so far held it back from further strengthening. The market will keep an eye on geopolitics and prepare for the Central Bank's February rate meeting.

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