empty
 
 
02.02.2023 11:59 PM
Gold at the peak of popularity: what to expect in the coming year

This image is no longer relevant

The weakness of the U.S. dollar, as well as the monetary policy of the Federal Reserve, which signals that it has taken a soft stance, pushes precious metals to extend gains. And not only in the short term, but also in the long term. Most analysts bet that 2023 will be extremely positive for the gold and silver market. Their positions will strengthen considerably, and there are very few risks for decline.

Expectations of experts with regard to precious metals are very high. So, the average increase in the value of gold for 2013 could be about 3.3%. Silver is able to demonstrate positive dynamics in the area of 8.8%. It can certainly be considered as quite a significant increase.

Uncertainty regarding the US dollar is among the main supporting factors for the precious metals market. The dollar is getting weaker, which can be seen even now, and it is unlikely to change its course in the near term.

The soft monetary policy of the Fed also makes gold the market favorite. Inflationary factors and unstable geopolitical situation in the world also have less influence, but supportive effect.

According to experts, the cost of gold by the end of 2023 could reach a level of slightly more than $1,859 per troy ounce. Meanwhile the expected range of fluctuations during the year is still rather wide. So, the price in different periods may range from $1594 to $2025 per ounce. Indicatively, this range coincides with the forecast presented for 2022. Recall that the average price of precious metal for that period was at $1800.09 per ounce.

The second most popular metal, silver, is also expected to have a positive trend this year. According to assumptions, its price will reach the level of 23.65 dollars per ounce, which is higher than the final value in 2022, which stopped in the range of 21.73 dollars per ounce. Meanwhile, analysts forecast that the precious metal will move between $17.5 and $27.0 an ounce throughout this year.

The price of platinum may also show quite good prospects. In particular, we're talking about a possible annual increase of 12.5%. The average price of the precious metal in 2022 was $1,080.4 per ounce. The range of movement this year could be in the range from $988 to $1,241 per ounce.

However, the market of precious metals can't do without failures. Thus, many analysts point out that palladium will be under pressure. Its price may fall by 14.3% at once by the end of the new year. Thus, it will reach the threshold of $1,809.8 per ounce, while in 2022 its price was $2,112.06 per ounce.

Meanwhile, on Thursday morning, the precious metals market reflected positive values. In particular, gold managed to grow by 1%, which brought it close to the new mark of $1970. The dollar's weakness, which happened after the Fed announced that it would slow rate hikes, acted as the main moving factor.

As a result, the price of April gold futures on the New York Comex Exchange rose by $25.75, or 1.33%, to $1,968.55 a troy ounce. March silver futures rose 2.74% to $24.255 an ounce.

Maria Shablon,
انسٹافاریکس کا تجزیاتی ماہر
© 2007-2023
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    مقابلہ میں شامل ہوں
  • چانسی ڈیپازٹ
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروائیں اور حاصل کریں$1000 مزید!
    ہم جون قرعہ اندازی کرتے ہیں $1000چانسی ڈیپازٹ نامی مقابلہ کے تحت
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروانے پر موقع حاصل کریں - اس شرط پر پورا اُترتے ہوئے اس مقابلہ میں شرکت کریں
    مقابلہ میں شامل ہوں
  • ٹریڈ وائز، ون ڈیوائس
    کم از کم 500 ڈالر کے ساتھ اپنے اکاؤنٹ کو ٹاپ اپ کریں، مقابلے کے لیے سائن اپ کریں، اور موبائل ڈیوائسز جیتنے کا موقع حاصل کریں۔
    مقابلہ میں شامل ہوں
  • 100 فیصد بونس
    اپنے ڈپازٹ پر 100 فیصد بونس حاصل کرنے کا آپ کا منفرد موقع
    بونس حاصل کریں
  • 55 فیصد بونس
    اپنے ہر ڈپازٹ پر 55 فیصد بونس کے لیے درخواست دیں
    بونس حاصل کریں
  • 30 فیصد بونس
    ہر بار جب آپ اپنا اکاؤنٹ ٹاپ اپ کریں تو 30 فیصد بونس حاصل کریں
    بونس حاصل کریں

تجویز کردہ مضامین

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.
Widget callback