ALEXANDER LINNIKOV ON RADIO “ZVEZDA” ABOUT THE GROWTH OF PRECIOUS METAL FUTURES

22/05/2024, the founder of L&P spoke on “ZVEZDA” radio with a comment on the reasons for the excess of the June precious metal futures of $2,450 per troy ounce.

“The main factor that contributes to the increase in the price of this precious metal is the instability of the world’s leading reserve currencies, not only dollars and euros, but also yuan and other currencies that are in circulation in vast and densely populated territories. It is no secret that in some countries gold is the main means of saving, for example, this is typical for India, partly for Iran, and countries such as Turkey. And in times of international economic tension and global instability, gold comes to the fore as an accumulation tool. The tense political situation in Iran contributes to the weakening of the national currency of Iran, which in turn leads to an increase in demand for gold, again as a means of accumulation. We observe similar phenomena in Turkey. If international political and economic tensions continue to grow, this will inevitably lead to additional demand for gold, which will contribute to an increase in its price. The global trend towards rising gold prices can be overcome only if relative stability occurs in the global economy, and the main world reserve currencies maintain their positions and parity with each other,” says Alexander Linnikov and adds: “Perhaps you should not take this news as a sensation, look for any signs in it. The price of gold is formed by market conditions, and with changes in the international economic environment, a decline in gold prices may occur, which we have repeatedly observed in the past. Today, the price of gold is rising, tomorrow the price growth may slow down, or vice versa, the demand for gold may decrease – this will lead to a decrease in the price.”