Outlook 2023: Gold poised to shine in new year post rollercoaster ride in 2022
Rollercoaster ride of gold in the tumultuous year of 2022 is probably going to end in a slight annual loss with Gold prices hovering around $1,810/Oz not far from 2021 close of $1,826. Still, mere statistics of comparative annual returns would not reflect the volatile journey the yellow metal has had throughout the year. However, gold looks well positioned to shine brightly in 2023 on stagflation and geopolitical risks as global economy faces enormous headwinds amid elevated inflation and high interest rates. Such a scenario would solidify position of gold as a reliable asset and a trustworthy store of value.