The economist announced a correction phase in the precious metals market

The correction dynamics remains in the precious metals market, while gold and silver remain significantly below their January price peaks. This opinion was expressed by Spartak Sobolev, head of the Alfa-Forex Investment Strategy Research Department, in an interview with Izvestia on February 10.

"This week, economic news from the United States will affect price fluctuations: unemployment and inflation data for January, as well as geopolitics. This week, we expect a troy ounce of gold to consolidate in the range of $4,600—5,400, and an ounce of silver in the range of $68-98," the expert noted.

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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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