Where is it best for Kyrgyz citizens to invest their dollars and soms?
A new building of the National Bank was opened in Bishkek. President Sadyr Japarov suggested that both commercial banks and citizens store gold in this institution.
Economist Iskender Sharshiev believes that the vaults of the new National Bank could become an attractive option for storing precious metals, but only under certain conditions.
“The storage agreement implies the presence of insurance. If deposits or stored items are necessarily insured with state insurance companies, this will become a profitable solution. State guarantees for safety are a key point,” he noted in an interview with Vesti.kg.
Additionally, the economist warned citizens about the risks associated with attempts to profit from fluctuations in gold and cryptocurrency prices.
“We analyzed the price chart of gold and the actions of other traders with one trader. Many investors incurred significant losses. They observed the rise in gold prices when it reached $4200 per troy ounce, and then it fell to $3900. As a result, they found themselves in an unfavorable position. Investments in cryptocurrency, gold, and stocks are considered high-risk assets. It is important to remain objective and use the right analytical tools,” he emphasized.
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