2023 Gold Price Outlook | These 2 Major Factors Will Boost Gold Prices | The Gold Spot
With 2022 coming to a close, many people are reevaluating their investments to make sure they’re in the best position for next year.
Ever since surging past $2,000/oz in early March, gold’s stagnant price action has confounded investors even as demand for physical assets surges.
#Gold charts suggest that there’s strong support around the $1,600 to $1,700/oz mark. Gold prices have remained above this line for the past few years despite aggressive #ratehikes from the #Fed which usually drives values down.
This sturdy price support along with evolving market conditions strongly indicates that gold prices are going to move higher into #2023 and beyond.
The Fed recently announced its plan to ease rate hikes in the near future with many anticipating an eventual pivot away from the strategy altogether. This change would give #goldprices breathing room to run.
Another revelation from the Bank for International Settlements has experts eyeing a considerable jump in gold prices in the near future.
Just this week, the #BIS announced that over $80 trillion worth of debt was held by pension funds, private companies, and other non-bank firms. The majority of that debt will need to get refinanced as early as next year which could lead to systemic crashes.
Watch the video to hear Scottsdale Bullion & Coin Advisor Joe Elkjer & Sr. Advisor Damian White explain gold’s current price action, where gold prices are headed in 2023, and why investors need to invest now. #goldprice2023
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