The deputy assessed the dynamics of precious metals this week

On May 12, State Duma deputy and member of the Committee on Small and Medium-sized Enterprises Alexey Govyrin (United Russia) told Izvestia about the current situation on the precious metals market and key factors affecting their dynamics.

"Gold is holding around $4.7 thousand per ounce this week, balancing between demand for defensive assets, the high cost of oil, the strengthening of the dollar and expectations for the interest rate of the US Federal Reserve System. Inflation in the United States in March was 3.3% in annual terms, while the market expected acceleration to 3.7% in April. On April 29, the Federal Reserve System kept the base rate in the range of 3.50–3.75%, and market participants practically ruled out the possibility of its reduction in 2026. The nearest gold levels are in the range of support around $ 4.5 thousand and resistance of $4750-4760 per ounce," the parliamentarian explained.

Silver showed increased volatility at the beginning of the week: on Monday, the metal rose 6.6% to $86 per ounce, but on Tuesday it adjusted to $84. Nevertheless, the precious metal shows stronger dynamics compared to gold, and the price ratio has reached 55, which is the lowest since 2013.

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Platinum, he noted, remains in the range of $2050-2120 per ounce and previously updated the maximum since March. Palladium is trading near $1,480-1,500 and shows weaker dynamics. At the same time, the structural shortage of platinum and the concentration of mining in South Africa and Russia continue to support metal prices.

For private investors in Russia, the deputy stressed, gold remains a tool to protect capital in the face of a possible weakening of the ruble. Among the available investment methods, he singled out impersonal metal accounts, investment coins and bullion, noting that each of the instruments has its own costs and risks, and compulsory medical insurance does not fall under the deposit insurance system.

As reported on April 29, the price of gold futures for delivery in June 2026 on the Comex exchange on April 29 fell below $4,550 per troy ounce for the first time since March 30 this year. As of 16:20 Moscow time, the price of precious metals decreased by 1.34%, amounting to $4,546.8 per troy ounce. Five minutes later, by 16:25 Moscow time, the futures price slowed down the decline. Gold was at $4,547.5 per ounce, which is 1.32% lower than the previous values.