The expert spoke about the prospects of gold against the background of the Fed's decision

Uncertainty remains in the precious metals market: gold continues to trade under the pressure of a strengthening dollar, while silver shows moderate growth. Alexey Vyazovsky, Vice President of the Golden Board company, told Izvestia about this on July 29.

At the end of last week, the yellow metal failed to overcome the key mark of $ 3,400 per troy ounce and rolled back down. The reason was the positive signals about the trade negotiations between the United States and the European Union (EU), which strengthened the dollar's position and reduced the attractiveness of defensive assets.

"Right now, gold is in limbo. If the Fed unexpectedly eases policy, we will see a strong growth momentum. But for now, investors prefer to wait, fearing unexpected decisions by the regulator," said Alexey Vyazovsky, vice president of the company.

The key event will be the meeting of the Committee on Open Market Operations (FOMC). Most analysts expect that rates will remain at the current level, which will support the smooth growth of gold and silver. In the event of a rate cut, which is actively sought by US President Donald Trump, a sharp increase in quotations is possible. The level of $3,500 remains critical for gold, and $40 per ounce for silver.

Interest rate futures are already considering two possible cuts this year and three next year. At the same time, investors' optimism is supported by data from the Commodity Futures Trading Commission (CFTC): large speculators have increased their net long positions in gold by 19%, a record since March 2024 and a maximum since April last year.

Gold has risen in price by 27% since the beginning of the year, largely due to the trade conflicts of the Trump administration. However, a possible de-escalation of these confrontations may reduce the "risk premium" in the price of the metal. In this case, purchases by central banks, which continue to build up reserves, will remain the main driver of demand.

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?

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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