When it comes to investing in gold in the new year, Frank Holmes, CEO and chief investment officer of U.S. Global Investors, has one thing to say: don’t be underweight. “In 2022, I think investors underweighted gold in their portfolios, and perhaps this will change in the new year,” he told Kitco News. “In addition, in 2022, central banks consumed more gold than we have seen in living memory. Essentially, central banks are trying to hedge against their very policies.” In other news, starting Jan. 1, Americans will start to see the tax increases from President Biden’s Inflation Reduction Act. Americans for Tax Reform has compiled a list of them, which you can find below.

Kitco News
Investors were underweight gold in 2022, don’t make the same mistake in 2023 – Frank Holmes

Investors will soon be closing the book on 2022, and it has been an unprecedented year, to say the least.

Inflation has risen to its highest level since the 1980s, forcing the Federal Reserve to raise interest rates at the fastest pace in more than 40 years. This past year, the U.S. central bank has increased interest rates by 425 basis points.

It has been a challenging year for most investors as the traditional 60/40 portfolio allocation has seen its worst losses since the 1930s. The Federal Reserve’s aggressive monetary policy has pushed bond yields to their highest level in more than a decade and the U.S. dollar saw a 20-year high this past year.

You can read the full story, here.

Americans for Tax Reform/Mike Palicz
List of Biden Tax Hikes Hitting Americans on Jan. 1

President Biden and congressional Democrats imposed a long list of tax increases as part of their “Inflation Reduction Act” passed in 2022.

On Jan. 1, 2023, the following Democrat tax hikes will take effect:

$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills

Think your household energy bills are high now? Just wait until the three major energy taxes in the Inflation Reduction Act hit your wallet. The first is a regressive tax on American oil and gas development. The tax will drive up the cost of household energy bills. The Congressional Budget Office estimates the natural gas tax will increase taxes by $6.5 billion.

You can read the full story, here.

Business Insider/Phil Rosen
Here are the boldest predictions for 2023: Crashing stocks, another Great Depression, and a meatless nation.

In the past year, investors have been rocked by a bear market, the crypto crash, Russia’s war on Ukraine and massive Fed rate hikes — and some forecasts see even more tumult in 2023.

Here are some of the boldest predictions for the new year.

Tesla stock will plunge further

Long-time Tesla bear Gordon Johnson, head of investment research at GLJ Research, expects more downside for Elon Musk’s EV company. In fact, he said that shares of Tesla could drop as low as $23, per Fortune.

Read the rest of the predictions, here.

About the Author

60 Years Experience

REQUEST YOUR FREE
GOLD IRA GUIDE

By clicking the button above, you agree to our Privacy Policy and authorize Red Rock Secured or someone acting on its behalf to contact you by email, text message, pre-recorded message, or telephone technology on a recorded line, for marketing purposes. Consent is not a condition of any purchase.