The expert called the decline in gold prices short-term

The decline in gold prices observed in recent days is likely to be temporary. The "bullish trend" in the precious metals market persists, Evgeny Shatov, a partner at Capital Lab, told Izvestia on July 24.

"Of course, it is worth investing in gold, taking advantage of a convenient moment of temporary drawdown. In any case, gold will show good returns on the long-term horizon, given that the growth potential is still quite high. Investors should not expect any significant new drawdown in price," the expert explained.

According to him, the current support level for gold is around $3,300 per ounce at quotes of $3,370. Pressure on the price may persist for one to two weeks, but no significant drop is expected.

The expert identified several main factors influencing the dynamics of gold prices. These include the policy of the Federal Reserve System (FRS), the dollar exchange rate, the inflation rate, demand from central banks, and the state of the ETF market. The probability of a Fed interest rate cut in September is 58.3%. An increase in the DXY index reduces the attractiveness of gold, while the June consumer price index (CPI) recorded an increase in prices with a stable producer price index (PPI). The central banks of China, India and Turkey continue to actively increase their reserves of precious metals.

"The conflict between [US President] Donald Trump and Fed Chairman Jerome Powell increases uncertainty, supporting gold prices. At the same time, the strengthening of the dollar may temporarily restrain growth," Shatov added.

In the event of a softening of the Fed's policy or an increase in geopolitical risks, such as escalation in the Middle East or a trade war with China, gold may rise in price to $ 3.5–3.6 thousand per ounce. The medium-term forecast assumes a price increase to $3.9 thousand by 2026 due to high demand from central banks and a weakening dollar.

The stock is solid: Russia's reserves in gold have reached a record $249 billion.

Why is it one of the most reliable assets for the country now and will the metal become more expensive?

Earlier, on April 19, independent financial expert Andrey Barkhota told Izvestia about where to invest in 2025. In particular, according to him, the profitability of bank deposits may exceed 20% per annum. For example, an investment of 1 million rubles will bring the investor more than 200 thousand rubles of net profit per year.

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