Valery Yemelyanov, analyst at Freedom Finance, believes that now is the right time to buy gold, after its recent decline in the markets.
The analyst said: “For those who are considering buying gold into their wallet, now is the best time. The price of an ounce of gold is currently 15% lower than the peak that was recorded in 2020.”
Yemelyanov advised increasing the share of the precious metal in the investment portfolio in the next two years, indicating that the yellow metal will remain in demand in the coming period as a safe haven.
According to Bloomberg data, the price of an ounce of gold has decreased since the beginning of the year by 8%, as the price of an ounce in spot contracts decreased from $ 1895.10 per ounce to $ 1741.50 per ounce.
Source: Novosti + Bloomberg