Gold, silver kick off 2023 in style silver gold Fed
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
In an exclusive interview with Kitco News' Michelle Makori, Nouriel Roubini, CEO of Roubini Macro Associates and Professor Emeritus at NYU Stern School of Business, said that investors will flock to gold as 10"megathreats" threaten the global economy."Over the next few years, I would expect that gold could have high single-digits into low double-digits rates of return," said the renowned economist, also known as"Dr. Doom," in the interview.
Many investors stayed away from gold in 2022 as the Federal Reserve's aggressive monetary policy stance pushed bond yields to a 12-year high and the U.S. dollar to a 20-year high; however, analysts have said that that trend could be reversing in 2023 as the Federal Reserve is nearing the end of its tightening cycle.
But gold is more than just the sum of investment demand. Global geopolitical uncertainty continues to support the precious metal as a critical element in global currency markets.
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