Economist Konstantin Tserazov shared his view on which assets could help Russians save and increase their savings against the backdrop of current volatility in the ruble exchange rate. He talked about this in an interview with Gazeta.RU.
According to him, gold has traditionally been viewed as a defensive asset in times of high inflation and uncertainty. However, it has a downside – this asset does not generate a regular income like stocks or bonds. At the same time, you have to spend money to store gold.
The expert believes that gold may show weak dynamics in conditions of high rates. Tserazov predicts that by the end of the year, the dollar price of gold will increase by only 2.5%, and the increase in the ruble price of gold will be insignificant, given the possible stability of the ruble exchange rate.
According to the economist, stocks can be a more profitable tool to hedge against inflation. “In the current market conditions, it makes sense for Russians to consider investing in stocks or ruble deposits,” Tserazov said.
On the eve of the largest banks in Russia raised deposit rates.
Previously, the Central Bank of the Russian Federation sharply raised up to 12% key rate in an unscheduled meeting.