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The short squeeze in November, followed by the December gains, has pushed gold prices into roughly neutral territory for the year with a loss of 1%. For comparison, the S&P 500 is down 17% year-to-date. "Investors who had gold in their portfolio in 2022 would have seen better returns, fewer losses and less volatility," he said in an interview with Kitco News. We expect that will continue to be the case in 2023."
It is expected that the Fed will be less aggressive with a 50-basis point rate hike; however, according to many analysts, the risk for gold is the central bank's dot plots. At the same time, gold is more than the sum of its investment demand. Central bank demand for the precious metal has grabbed market attention for the past month and we learned that China is again buying.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »