The expert assessed the dynamics of gold and silver prices

The precious metals market remains in a correction phase, but quotes are gradually recovering amid expectations of a decrease in tensions in the Middle East. Alexander Schneiderman, head of Alfa-Forex's Customer Support and Sales department, told Izvestia about this on April 6.

"The expectation of a gradual de-escalation of the situation in the Middle East allows gold and silver quotes to partially regain their positions. Demand for precious metals remains quite stable among both private investors and institutional market participants, including global central banks," he said.

Schneiderman added that gold could trade in the range of $4,500—4,900 per troy ounce this week, while silver could trade in the range of $68-80 per ounce.

Iran has squeezed gold: why the precious metal has collapsed in price

It has become one of the most affected assets due to the war in the Middle East.

On March 23, Spartak Sobolev, head of Alfa-Forex's Investment Strategy research department, told Izvestia that the market could face increased volatility in the coming week. The price of gold will fluctuate in the range of $3900-4650 per troy ounce, and silver — in the range of $ 55-75 per ounce.

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