iGold

Gold has staged an impressive recovery from its Q4 2022 lows of $1,615 per ounce: the precious metal is trading at $1,860, or 15.2% higher, as this article is going to press in early January. So impressive is the recovery that it has negated a bear-market signal which appeared last August, and instead flipped the 2023 – 2024 expectation decidedly higher. In this article, we will highlight the technical reversal which gold has registered, and discuss our forecast for gold in 2023.

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Gold and silver are in bear markets.

Why? The market-perceived reaction by the Federal Reserve to quash inflation by raising interest rates.

Whether or not the Fed is ever successful at bringing inflation down is immaterial – the market believes that the Fed will be successful, and the market is selling gold as a result. Those who disagree with the price action of the market itself will do so at their own peril over the coming years.

Click HERE to continue reading for free on our partner site, Gold-Eagle…