Economist, member of the Supervisory Board of the “Guild of Financial Analysts and Risk Managers” in Russia Alexander Razuvaev admitted that we are at the beginning of a global financial crisis. According to him, precious metals increase in price when people expect a large-scale crisis, writes Izvestia.
According to him, dividing funds between bonds and stocks in a ratio of 60 to 40, as was customary, no longer makes sense. “Now a modern crisis-proof portfolio should consist of 75% gold, silver and bitcoin and 25% oil company stocks.”
“Gold and platinum are safe havens, that suggests we’re in for a big, big crisis.” I don’t know what the “black swan” will be, a world war, the collapse of the Eurozone,” the analyst said in an interview with Lenta.Ru.
Razuvaev noted that Italy or Spain could leave the Eurozone. Accordingly, they will convert their sovereign debt from European currency into pounds or pesetas.
“Actually, it’s a bankruptcy, a banking crisis, maybe something else will happen. But basically, these are harbingers of a crisis, and it will, of course, be global,” the economist emphasized.
He added that if there is a major crisis and recession, energy prices will fall.
In this situation, holding money in bitcoins is not a good idea, but precious metals and oil stocks are good instruments, he concluded.
On October 28, prices of key resources rose sharply due to the conflict in the Middle East. Thus, gold exchange prices rose by almost 1% overnight, reports NSN.
Earlier, on October 26, Capital Lab partner Yevgeny Shatov told Izvestia what it is profitable to invest in at the moment and what financial instruments can be considered reliable. Thus, according to the expert, at the end of 2023, good prospects will open for the owners of shares in commodity companies, in particular from the oil and gas sector.