Gold has performed disappointingly this year, going from a high of just over $2,050 in March to a low of $1,617 in early November. TD Securities economists expect the yellow metal to move below $1,600 in the coming months.
Gold will record a sustainable recovery above $1,800 in the latter part of 2023
“Despite the recent recovery, a continued strong rise in US real and nominal rates along the short end of the curve is projected to drive gold towards $1,575 in Q1 2023.”
“The yellow metal could well start to trend higher towards $1,800 or more after the first quarter, as it becomes apparent that the Fed is nearing the end of its tightening cycle and the market begins to look towards the future.” cuts on the horizon.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
