Gold prices have room to run as banks struggle and the Federal Reserve renders another rate decision, potentially breaking all-time highs — and staying there.
Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold.
Gold notched an 8-month intraday high on Monday as the precious metal’s strong start to 2023 continued, buoyed by lower yields and a weaker dollar.
The price of gold notched a six-month high early on Tuesday, and analysts believe the rally has further to go in 2023.
Saxo bank has made its “outrageous” predictions for 2023, including meat bans, gold prices soaring and Britain voting to reverse Brexit.
Juerg Kiener, managing director and CIO of Swiss Asia Capital, said investors would look to gold with inflation remaining high in many parts of the world.
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