Future gold price?5 Jan 2023 08:05
I got this from bullion by post this morning. Let’s hope it’s correct.
Flying start for precious metals as gold nears all-time high
Precious metals have started 2023 continuing the impressive gains seen in the latter months of 2022. Gold, silver and platinum all enjoyed higher prices last year that saw them outperform many other assets, and they show little sign of stopping so far in the new year. Gold and silver are up more than 5% and 7% respectively in the past month in the UK.
Growing fears of recession and economic downturn have spurred safe haven demand in recent months. Analysts believe gold could be heading for a new all-time high above $2,100 per ounce, with Saxo Bank even seeing $3,000 as a possibility. In the UK, gold is already fast approaching the all-time high of £1,582.87, currently just £40 away. Silver hit a near two-year high of £20.51 yesterday morning and is still holding above the £20 mark.