Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
The comments come as gold prices have verged on a technical bull market with prices recently up nearly 20% from their November two-year lows. Shiels noted that the pullback in gold has been shallow. Gold's strong start to 2023 has pushed the gold/silver ratio off its recent one-year lows and is currently trading back above 80 points. It now takes more than eighty ounces of silver to equal one ounce of gold. The historical average for the ratio is around 60.
As to where gold goes from here, Shiels said the precious metal still has room to move higher. She added that this is the quietest bull market rally the market has seen in a long time. She said that the market is even close to being"frothy."
Until the day it won’t anymore.. so buy both 😉
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