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http://www.profinance.ru/news/2020/05/28/bxxk-vtb-kapital-ne-isklyuchaet-rost-zolota-do-2000-za-untsiyu-v-2020-godu.html
VTB Capital does not rule out a rise in gold to $ 2,000 per ounce in 2020
The head of the company with assets of $ 35.5 billion made recommendations on stocks, commented on the bond market and believes that gold should be one of the assets in the investor's portfolio.
Slowing economies due to the coronavirus pandemic could well raise gold quotes to 2000 in the next year, the head of VTB Capital Investment, Vladimir Potapov, said. The organization manages $ 35.5 billion worth of assets. Potapov recommended allocating about 5% of the investment portfolio for gold.
The price of gold in the spot market rose on May 18 to 1765.05 per troy ounce, which is a maximum for nine and a half years. Then the quotes decreased and yesterday for the first time since May 13, they fell below 1700 per ounce, but ended the day above the indicated psychological level of support. Today, gold has risen in price by 0.35% to 1715.05 per ounce.
According to an expert from VTB Capital, some manufacturers of precious and industrial metals appear to be beneficiaries of the current market volatility.
Now it’s wise to start gradually increasing the position in Russian stocks, said Vladimir Potopov. He attributed the companies of the industry index "Power" to protective papers, recalling that he traditionally provides high dividend yield of up to 12%. The metallurgical sector has growth potential, using the recovery of China's economy as a driver, the expert said.
Following the close of trading on Thursday, May 28, the dividend yield of the Moscow Exchange Index for the past 12 months was 7.1%.
The head of VTB Capital also commented on the situation on the ruble government debt market, where a rally has been observed in recent weeks. Long and medium-term OFZs have exhausted their growth potential, while securities at the short end of the yield curve can still add value, says Potapov.
On this topic:
Deutsche Bank: gold will rise
JPMorgan: the rise in gold prices indicates a fall in confidence in fiat money
Gold has risen in price on a surge of geopolitical tensions
Governments may prohibit the purchase of gold to individuals
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