Gold Could Continue Its Run in 2023
Shane Neagle | Dec 27, 2022 21:12
Gold prices are staging a strong end to 2022 on hopes inflation has cooled while China continues to alleviate its stringent zero-Covid restrictions. Since the beginning of November, gold prices are up almost 13%.
Markets continue to price in recent U.S. data that showed cooler-than-expected inflation and consumer spending. This data could lift some burden off the Federal Reserve’s shoulders and allow it to slow the pace of interest rate hikes.
Rollercoaster Year for Gold Traders/h2
Bullion soared 16% between the end of January 2022 and the beginning of March and was headed for its previous all-time high of $2,075/oz hit in August 2020. Five Minute Finance , for weekly analysis of the biggest trends in finance and technology.
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