Gold prices to fall 10%, silver prices to fall 17% in 2023 - Metals Focus
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! In their 2023 price forecast, analysts at the British research firm Metals Focus said that they expect average gold prices to drop 10% next year, bottoming in the fourth quarter at a 4-year low of around $1,500 an ounce.
The analysts said that the Federal Reserve's monetary policy and its impact on the U.S. dollar and bond yields will continue to be the biggest headwinds for gold and silver in the new year. Although gold and silver prices are expected to struggle through 2023, Metals Focus said they still see the precious metals playing an essential role in investors' portfolios. The analysts said they expect gold and silver to outperform equity and bond markets.
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