The projected price per ounce of gold is expected to range from 2070 to 2150 dollars in a base scenario and from 2250 to 2350 dollars in an optimistic scenario by the end of 2024. This forecast comes from Finam analysts, and the outlook was relayed to the editors of socialbites.ca for publication. The analysis emphasizes that gold can exhibit positive momentum when geopolitical tensions and economic risks rise, making bullion a compelling consideration for investors seeking stability. In this environment, stocks tied to gold mining companies also catch the eye of market participants. Even with sanctions in place, Russian miners have maintained routes to sell gold domestically and through partner nations, a pattern that supports both rising metal prices and the depreciation of the ruble, which can amplify the appeal of gold investments.
According to a finance expert and economic science candidate, the ruble, the dollar, and gold are anticipated to be among Russians’ most trusted investment avenues in 2024. The outlook reflects a preference for assets that can preserve purchasing power amid currency volatility and uncertain macro conditions. This stance aligns with a broader trend where investors seek hedges against inflation and currency weakness, especially in a landscape dominated by shifts in monetary policy and global risk appetite. The message underscores a cautious but proactive approach to wealth preservation through tangible assets and diversified exposure.
Wealthier Russians reportedly increased their gold purchases in 2023, even as the metal’s price per ounce climbed about 9.8 percent from the start of the year to roughly 2003.9 dollars. Analysts point to several drivers behind robust demand: the removal of value-added tax on individual jewelry and bullion purchases, exemptions from personal income tax on bullion resale, and the option to settle transactions in foreign currencies. These policy moves reduce the transactional friction and cost of acquiring gold, encouraging households to treat bullion as a store of value and a flexible asset that can be leveraged under varying market scenarios.
Dmitry Evteev, previously a consultant in the financial market development division of the Central Federal District’s Bank, highlighted four primary categories of gold investments. The guidance reflects a structured framework for retail and institutional investors to consider different forms of gold ownership, from coins and bars to digitized and instrument-based exposures. The emphasis remains on balancing liquidity, storage considerations, and regulatory compliance while navigating price volatility and macroeconomic signals.