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Standard Chartered predicts new 2023 high for gold

Multinational bank Standard Chartered is bullish on gold heading into 2023, with new price expectations calling for a record high within the next 12 months. The bank’s global head of research said that it’s highly likely crypto currencies will continue to struggle next year, giving gold a clear path to an unprecedented price of £1,852 ($2,250).

“As cryptocurrencies fall further and more crypto firms succumb to liquidity squeezes and investor withdrawals” gold will shine, according to Eric Robertson. He also cited market volatility and growing safe-haven appeal as likely to boost gold in the New Year. “The 2023 resurgence in gold comes as equities resume their bear market and the correlation between equity and bond prices shifts back to negative,” he added.

The gold bulls are already on a high after a series of price gains over the last few weeks. Don’t wait for prices to continue escalating. Buy now.

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