Gold prices soar to 6-month high, widely expected to go higher in coming months
01/06/2023 // Belle Carter // Views

Prices of gold soared to a six-month high in the early hours of Tuesday, Jan. 3, according to trading data.

CNBC reported that the precious metal's cost peaked just below $1,850 per troy ounce before easing off to trade around $1,838. U.S. gold futures were up one percent at $1,844.10. Analysts believe the rally will continue throughout the year.

The news portal also cited how there has been a general incline trend in the prices of gold since November as market turbulence, rising recession expectations and more gold purchases from central banks have underpinned demand.

"Fear and doubt across wider financial markets mean gold and silver have begun 2023 with a typical New Year surge, attracting speculative inflows as traders see weak growth, high inflation, and a worsening geopolitical outlook ahead," Adrian Ash, director of research at BullionVault wrote in a  commentary.

Ole Hansen, head of the commodity strategy at Saxo Bank, said analysts are generally looking for a price friendly 2023.

He noted that the de-dollarization seen by several central banks last year looks set to continue, thereby providing a soft floor under the market. "Above $1,842, the 50 percent [mark] of the 2022 correction, gold will be looking for resistance at $1,850 and $1,878 next," the commodity strategy expert said.

Full dovish pivot by central banks will further boost gold prices

This year's gold outlook for global markets hinges on the trajectory of monetary policy as central banks "ease off" the aggressive interest rate hikes of the past year amid slowing economic growth and possible recession.


According to strategists, a full dovish pivot by central banks this year will further boost gold prices.

Eric Strand, manager of the AuAg ESG Gold Mining ETF, predicted that 2023 would yield a new all-time high for gold and the start of a "new secular bull market," with the price exceeding $2,100 per ounce.

"Central banks as a group have continued, since the great financial crisis, to add more and more gold to their reserves, with a new record set for [the third quarter of] 2022," he explained. "We, therefore, believe gold will end 2023 at least 20 percent higher, and we also see miners outperforming gold with a factor of two." (Related: Central banks all over the world are buying gold at a furious pace.)

Even Robert Kiyosaki, the renowned author of the best-selling book "Rich Dad Poor Dad," has predicted via a tweet that the price of gold will soar to $3,800 this year while silver will hit $75.

He explained: "I became a gold bug in 1972. I was a Marine pilot in Vietnam flying behind enemy lines hoping to buy gold at a discount because the mine was in enemy hands. Found out the price of gold is the same all over the world."

Last week, he warned investors that it may be the last chance for them to buy gold and silver at low prices. Kiyosaki said many times in the past that he does not trust President Joe Biden's administration, the Federal Reserve, the U.S. Treasury and Wall Street. He predicted the stock, bond and real estate markets to crash as the Federal Reserve is expected to continue to hike interest rates to fight inflation.

Check out for more news about gold and silver.

Watch this short video that talks about the effect inflation rate has on gold prices.

This video is from the Goldretired channel on

More related stories:

Health Ranger Report: John Perez highlights the importance of having silver and gold as crypto collapses.

Health Ranger Report: Gold and silver can help safeguard your assets as COLLAPSE of traditional pension systems looms.

Ex-JPMorgan executive, two traders await court decision over spoofing charges related to gold and silver price manipulations.

Gold demand surges in first quarter.

Sources include: 1

Take Action:
Support Natural News by linking to this article from your website.
Permalink to this article:
Embed article link:
Reprinting this article:
Non-commercial use is permitted with credit to (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.
App Store
Android App
eTrust Pro Certified

This site is part of the Natural News Network © 2022 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
Natural News uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.