Precious Metal Forecast for 2023
After a prolonged decline since the beginning of 2022, the precious metals market has resumed its dynamics in an increasing trend, and their demand, mainly gold, will continue to grow from private investors and global central banks. Experts explain this phenomenon due to the expectation of easing the monetary policy of the US Federal Reserve, the weakening of the dollar, and the high demand for the physical metal.
So is investing in precious metals the right decision right now? What can be the benefits of investing in precious metals? Let’s find out the answers in light of the forecasts of the precious metals for 2023!
Precious Metal Forecast for 2023
According to analysts, the prices of precious metals, particularly gold, are expected to rise to a record high in 2023. In fact, gold could be worth more than ever before and has become the focus of investors, considering the growing recession concerns and high inflation.
In 2023, a positive trend in gold prices is expected, which will be associated with the Fed’s actions. The market seems to wait for the regulator to reduce the aggressiveness of interest rate hikes and peak in the 5-5.25% range in mid-2023.
Gold’s upside potential will remain if the slowing trend in inflation continues. Prices can find conditionally fair levels of $1800-$1900 per ounce at the beginning of 2023. However, the price can possibly reach up to $2,000 in the future.
Likewise, the forecasted price ranges for silver, platinum, and palladium per ounce are $17 to $25, $800 to $1,150, and $1,300 to $2,250, respectively.
At the same time, the US recession will be mild, and inflation will remain moderately high. This has and will continue to keep investors interested in gold, pushing prices up.
In light of these forecasts and the benefits of investing in precious metals, the experts recommend beginners to ‘get started,’ as 2023 could be the best time for this. Even if the budget is tight, investors are encouraged to invest in silver, as they will, at some point, be able to sell it and buy gold, as per experts. Thus, the key is to start investing in precious metals.
Precious Metals in 2023 as an Investment Asset: Yes or No?
Precious metals, particularly gold, should be viewed as an asset for permanent investment, regardless of market dynamics and prices. The presence of gold and gold assets in the portfolio at up to 20-30% ensures the stability of the portfolio and protects against systemic and market risks.
There is an opinion in the market that investing in gold does not make a person richer but allows them not to become poorer. According to experts, investing in gold makes it possible to save part of the state since its purchasing power for comparable goods is maintained in the long term. Now the most optimal investment object is gold bars. You can also consider investing in shares of gold mining companies.
So, considering the current situation, which favors further growth in precious metal prices and the 2023 forecasts, are you ready to invest in precious metals?
Reach Out to the Orion Metal Exchange Team and Start Investing in Precious Metals Today!
Currently, the weight of gold in the investment portfolio seems quite rational. The benefits of investing in precious metals are more than ever—especially gold, which can be an interesting asset for diversifying your precious metal investment portfolio in 2023.
Orion Metal Exchange is a reference name in the precious metals exchange market, offering its clients the ability to buy, sell, and exchange precious metals for years. You can talk to our experts and guarantee pricing over the phone.
Call 1-800-559-0088 or visit our website and select from our diversified precious metal products-gold, silver, platinum, and palladium products- and expand your gold and silver investment company portfolio in the best way.