The outlook for gold this year seems to be quite optimistic because rates are unlikely to rise much further in the USA and...
Aa
Share
Precious metals in 2023 - what are the Exness' Michael Starks's predictions? Let's find out!
How will the price of an ounce of gold/silver change in 2023 - please justify.
The outlook for gold this year seems to be quite optimistic because rates are unlikely to rise much further in the USA and inflation will probably stay above target at least until the first quarter of 2024. The probability of negative real rates persisting for another several months at least makes the yellow metal attractive, and in much the same way as shares its performance was generally poor for much of 2022, so the bulls might be keen to return.
For silver many of the same comments apply; however, the intensity of the recession is an important factor because of silver's much greater application for manufacturing. The current general expectation of a fairly mild recession would probably lead to gold outperforming silver to some degree, but a deeper recession could make this a significant difference. The focus is on the American and Chinese economies over the next few months for the answer to this.
