The expert assessed the prospects for strengthening the Russian ruble

Against the backdrop of a negative geopolitical situation, gold is becoming more expensive. During morning trading, the price of its troy ounce rose above the $2,000 level to $2,005. Then it dropped to $1997. A similar price level was observed in the gold market at the pandemic’s beginning. Traders trading in the commodity markets are shocked by the rapid rise in prices. The cost of a thousand m3 of gas has jumped in Europe to a historic high of $3,700. The price of a barrel of Brent oil approached a record level of $150. Wheat trades ended last week with a price increase of almost 40%. Experts believe that the price of gold may reach $2,100 if the geopolitical situation does not change for the better soon. A few days ago, the head of the Fed, Jerome Powell, warned that a military operation in Ukraine and tough anti-Russian sanctions imposed in connection with this could have completely unpredictable consequences. They can affect the entire world economy.

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Arseny Kudrin

Publicist, trader

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