Readers can choose where to keep their savings: in cash, in gold, or in a bank. This perspective comes from Mikhail Belyaev, a candidate of economic sciences and a financial analyst, who discussed these options in relation to current market conditions.
According to Belyaev, last year he advised avoiding foreign currency as a storage for money, but the outlook has shifted. He suggested that this year it is possible to forecast a period when the ruble and the dollar might stay near their present values. In other words, both currencies could remain roughly balanced over the year, which would reduce sudden exchange rate shocks for savers. Still, he cautioned that keeping money solely in one currency may not yield strong gains.
Currency can help safeguard savings from inflation by providing a hedge against price growth, but it is unlikely to generate substantial profits on its own. This makes currency storage a prudent option for preserving capital rather than a path to rapid earnings.
The second approach, mentioned by Belyaev, is investing in gold through impersonal metal accounts. These accounts can be opened with banks, and the deposited funds are converted into grams of gold. When the investor decides to close the account, the value is determined by the current price per gram of gold. The economist notes that this type of investment can move up or down with market tides. Over the long run, gold tends to rise, but periodic declines are also possible. It serves as a tangible asset that can act as a buffer during inflationary periods, examples of which have been observed in diverse economic cycles.
Another dependable method to safeguard savings is to place funds in a bank deposit. While this option is reliable, its profitability tends to be modest, especially in environments with low interest rates. Belyaev points out that comparing opportunities reveals higher potential returns in the stock market, albeit with elevated risk. For some savers, stock market participation may feel like a second job, demanding time, research, and risk tolerance.
Industry insights from Sovcombank’s chief analyst, Mikhail Vasiliev, are noted regarding currency expectations. He projected a range of 88 to 92 rubles per dollar and 99 to 103 rubles per euro for the upcoming period. These numbers reflect the evolving dynamics of exchange rates and the importance of monitoring macroeconomic signals when making long-term savings decisions. [Citation attribution: Mikhail Vasiliev, Chief Analyst at Sovcombank]
Overall, the choice among currency storage, gold accumulation, and bank deposits hinges on individual risk appetite, time horizon, and financial goals. Savers are advised to balance preservation of capital with the potential for growth, recognizing that no single option guarantees consistent profits. A diversified approach that blends these elements can offer resilience in uncertain markets and help protect purchasing power across different economic scenarios. [Citation attribution: Mikhail Belyaev, candidate of economic sciences; industry commentary]