Experts say 2023 will be a good time to focus on gold and silver, especially in the Indian market. Pritam Patnaik, Head of Commodities at Axis Securities, believes the push will partly come from interest rate hikes across all central banks and the dollar index. In other news, the U.S. economy rebounded after shrinking for the first six months of the year, but some experts say it could be downhill from here.

CNBC TV 18/Manisha Gupta
The year ahead will be one for gold and silver: Axis Securities’ Pritam Patnaik

The uncertainty in the equity markets amongst the looming recession concerns has every investor in search of a safe haven. The commodity markets have proven to be one such haven with crude oil and gold giving much higher returns than the traditional equities in the Indian market.

So is it time for you to switch your focus to the commodities market? To take this discussion forward, CNBC-TV18’s Manisha Gupta spoke to NS Ramaswamy, Head of Commodities at Ventura Securities; Anuj Gupta, VP of Research at IIFL Securities; Ajay Kedia Director at Kedia Advisory and Pritam Patnaik, Head of Commodities at Axis Securities.

On gold and silver, Patnaik said, “I am fairly confident that the coming year is going to be the year for the gold and silver…My sense in gold is that I won’t be surprised to see levels of Rs 55,000 to 56,000 by the end of the next year and in the case of silver, I am a little more bullish at about Rs 67,000.”

You can read the full story, here.

Fox Business/Megan Henney
US GDP grows 2.6% in the third quarter, but recession fears linger

The U.S. economy rebounded over the summer after shrinking for the first six months of the year, but the rebound does little to allay fears that the world’s largest economy is headed toward a recession as it confronts painfully high inflation and rising interest rates.

Gross domestic product, the broadest measure of goods and services produced across the economy, grew by 2.6% on an annualized basis in the three-month period from July through September, the Commerce Department said in its first reading of the data Thursday.

Refinitiv economists expected the report to show the economy had expanded by 2.4%.

You can keep reading, here.

Kiplinger/Carlos Dias Jr.
7 Big Retirement Risks to Avoid

Preparing for retirement has changed dramatically throughout the last several decades. Not only are people living longer due to improved health care, but costs have dramatically increased all around.

The biggest difference between yesterday’s retiree vs. today’s is the diminished defined benefit — or pension — plan replaced by defined contribution plans with ERISA of 1974(opens in new tab) establishing the IRA and the Revenue Act of 1978(opens in new tab) creating the 401(k). Studies have shown that pensions are and have been rapidly replaced.

Continue reading, here.

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