Gold will explode higher in 2023 but it's the miners investors should pay attention to - ESGO's Eric Strand ESGOsEricStrand gold 2023outlook
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.
"We anticipate a new all-time high for gold during 2023 and the start of a new secular bull market when the price goes over 2 100 USD per troy ounce," he said in his commentary. "It is our opinion that central banks will pivot on their rate hikes and become dovish during 2023, which will ignite an explosive move for gold for years to come," he said.
"Since 2021, companies in the commodity sector have become true cash flow monsters, and the sub-sector with the highest margins has been the producers of precious metals," he said."Gold miners have a very low correlation with the broad stock market and are becoming more interesting for larger investors looking for possible/alternative return drivers, and that may result in strong capital flows, which will then take equity prices higher.
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