© Reuters. Expectations of a sharp increase in gold prices next year!
Arabictrader.com – The managing director and chief investment officer of Swiss Asia Capital, Jörg Kiener, predicted a significant increase over the next year, in conjunction with the growing demand for the precious metal in light of growing fears of the global economic recession and the possibility of slowing the pace of monetary tightening globally.
Jürg Kiener explained that gold prices could rise close to the 4000 per ounce level in 2023, mainly because high interest rates and fears of recession make the markets volatile, as it could fluctuate between $2,500 and $4,000 in the light of these developments.
The economist added that there is a good chance that the gold market has a big movement and that the rate of increase in the price of the yellow metal will not be just 10% or 20%, but will reach new highs due to the possibility that many central banks slow the pace of interest rate hikes, which is what will make gold more attractive to investors.
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