David Russell, VP of market intelligence at the TradeStation, says gold and silver are going to shine in 2023, adding that they’re positioning themselves as a safe haven for traders. “Gold and silver are go-to assets when traders are bearish on stocks and the economy,” he told Fox Business. At the same time, Michael Burry, “The Big Short” investor, is warning Americans that the U.S. is already in a recession and says that another inflation spike is coming. “Inflation peaked. But it is not the last peak of this cycle. We are likely to see CPI lower, possibly negative in 2H 2023. Fed will cut and [the] government will stimulate. And we will have another inflation spike.”

Fox Business/Joe Toppe
Silver and gold poised to shine in 2023

Amid persistent inflationary pressures and the worst year for stocks since 2008, precious metals like silver and gold are positioning themselves as a safe haven for traders in the coming year.

Often considered recession or inflation-proof, gold and silver registered gains, outpacing the three major U.S. stock averages. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite finished lower last year.

In an interview with FOX Business, David Russell, VP of market intelligence at the TradeStation, said “Gold and silver are go-to assets when traders are bearish on stocks and the economy.”

“The commodities are also classic hedges against the kind of inflation we’ve seen in the last year,” he continued. “Right now, precious metals have a certain appeal because a lot of investors think stocks are overvalued and they view gold and silver as alternate assets.”

You can read the full story, here.

Kitco News/Anna Golubova
Gold trades near 7-month peak on Michael Burry: ‘U.S. in recession by any definition,’ inflation to see ‘another spike’ as Fed cuts ratesfor smaller Fed rate hikes

The U.S. is already in a recession “by any definition,” and even though inflation might have peaked, for now, there will be another spike as the Federal Reserve starts to cut rates again, warned “The Big Short” investor Michael Burry.

Scion Asset Management founder’s message comes as markets are trying to price in recession odds for the new year.

“The US [is] in recession by any definition,” Burry tweeted over the weekend.

Continue reading, here.

CNBC
2023 is shaping up to be the ‘year of gold,’ says precious metals streaming company

Randy Smallwood of Wheaton Precious Metals says 2022 was “the year of the U.S. dollar.”

Watch the full video, here.

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