UBRD official encourages investment in precious metals
Afanasyev joined a group of other financial experts in the belief that current global economic factors have made the present an especially favorable time to enter the precious metals market as gold prices in particular have began to stabilize.
At the beginning of this year, gold was traded at $1,200 per ounce. By mid-March, the price of gold increased to $1,385 before dropping to the $1,232 per ounce at which gold trades today. Analysts forecast that gold will once again begin to increase in value when the number of people investing in the precious metal grows.
During the month of August, the total volume of previous metals trading on the Moscow Stock Exchange amounted to $40 million--a 52.2 percent increase over July's $25.9 million. Meanwhile, turnover during the month amounted to 984.7kg of gold and 435.5kg of silver, which Afanasyev attributes to reactions to geopolitical events and pessimistic economic forecasts.
"If the market price of gold increases, and the metal is on the contribution, the client is in a double benefit: it makes a rise in gold prices and an annual percentage of the deposit," Afanasyev said. "In any economic situation it is useful to have a contribution in the precious metals. I would recommend (people) place in gold 20 percent of available funds. Gold and all precious metals--a conservative test that is guaranteed to be able to preserve your capital, not even in the most peaceful time."
At UBRD, the interest rate extended to precious metals investors is dependent on the type of metal and often reaches five percent annually. Gold contributions may also be replenished by investors without limitations with accrual and payment of interest occurring at the end of the term.
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