MOSCOW, September 3. /TASS/. Seligdar expects that the demand for gold in Russia will remain for two-three years and the rise in precious metal prices will continue, President and Chairman of the Board of Directors of the Russian mining and metals company Alexander Khrushch told TASS in an interview on the verge of the Eastern Economic Forum (EEF).

"I believe the gold demand in the domestic prices will be for two-three years more. The price hike for the precious metal will continue. The more conflict and unpredictable the situation in the world is, the higher is the probability of the rise in gold prices; this is gospel truth. People start going to defensive assets in the form of gold in times of instability and rampant inflation," the chief executive said.

When the equilibrium is found, then the gold price hike stops in about six months and the demand goes down, he noted. "The question is that nobody knows for sure when the market will believe in stability again," the chief executive added.