With 2023 just days away, many experts are sharing their thoughts on inflation, a recession, gold prices, and more in the new year. Many big banks are predicting a recession within the first half of 2023 and a rise in the unemployment rate. Investors are also worried about what the new year will bring. According to a Bankrate survey, about 29% of American adults anticipate their personal finances to worsen in 2023. Precious metals experts say those people may want to consider investing in gold since they believe there’s a good chance that the gold market will see a major move that could push the metal to new highs.

CNBC/Charmaine Jacob
Gold at $4,000? Analysts share their 2023 outlook as inflation, recession fears linger

Gold prices could surge to $4,000 per ounce in 2023 as interest rate hikes and recession fears keep markets volatile, said Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital.

The price of the precious metal could reach between $2,500 and $4,000 sometime next year, Kiener told CNBC’s “Street Signs Asia” on Wednesday.

There is a good chance the gold market sees a major move, he said, adding “it’s not going to be just 10% or 20%,” but a move that will “really make new highs.”

You can read the full story, here.

Kitco News/Anna Golubova
U.S. economy on thin ice: These are top recession bets for 2023

More and more banks and economists are leaning towards a hard landing in 2023 as high interest rates start to bite. But a recession is not a done deal yet, even though the U.S. economy is on thin ice going into next year.

After a rapid interest rate hiking cycle by the Federal Reserve, macroeconomic data is finally showing signs of cooling, with the biggest hit to the economy yet to come.

Fed Chair Jerome Powell has reiterated a few times already that the full effects of this year’s total 425-basis-point rate increase are yet to be worked through the economy.

You can read the full story, here.

FOX Business/Aislinn Murphy
29% of US adults anticipate their finances worsening in coming year: survey

About 29% of U.S. adults anticipate their personal finances worsening in the coming year, according to a recent survey.

The Bankrate.com survey, released Monday, found that figure breaks down into 18% who said they expected their financial situation to “get somewhat worse” in 2023 and11% who said “get significantly worse.” More than a third of all respondents, 36%, indicated they thought it would remain roughly unchanged, according to the survey.

Among the 66% of respondents who anticipated their personal finances wouldn’t see improvement in the coming year, the reason that many pointed was persistent inflation, according to Bankrate.com. About 63% cited it.

Read the full story, here.

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