Gareth Soloway, President and CFO of InTheMoneyStocks.com, says that gold is set to outperform stocks and crypto this year as the Fed eases its tightening cycle. “I still think gold will be the best performer [in 2023]. You can’t get away from the fact that the Fed is now keeping interest rates where they are. They’re probably going to tighten a little bit more, but the bottom line is they’re not going to be looking to cut until we see a massively nasty recession.” He predicts that Bitcoin could drop as low as $9,000.
Kitco News/Cornelius Christian
Gold poised to be best-performing asset in 2023 – Gareth Soloway
Gold is set to outperform stocks and cryptocurrencies in 2023 as the Federal Reserve eases on its tightening cycle, according to Gareth Soloway, President of Verified Investing Education and InTheMoneyStocks.com. Soloway has over 20 years of experience as a professional trader, and correctly called the Bitcoin bottom for 2022.
“I still think gold will be the best performer [in 2023],” he told David Lin, Anchor and Producer at Kitco News. “You can’t get away from the fact that the Fed is now keeping interest rates where they are. They’re probably going to tighten a little bit more, but the bottom line is they’re not going to be looking to cut until we see a massively nasty recession.”
However, his prognosis for Bitcoin was not as positive, which he forecast could reach as low as $9,000. Soloway said, “you don’t have money being printed… I would daresay that without the Fed’s printing of money, Bitcoin is headed towards twelve to thirteen thousand [dollars], and maybe as low as $9,000.”
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Q.ai via Forbes
How Does A Recession Affect The Average Person?
Recession, recession, recession.
You can find the word plastered on every newspaper, in every talk show hosts’ mouth and bouncing around concerned investors’ minds. And yet, for all this talk of recession, the United States hasn’t actually entered one yet.
Still, constant concerns about recession are in themselves concerning. The more everyday investors and consumers worry about an economic downturn, the more likely they are to pull back spending. (Ironically, increasing the chances that a recession will head their way.)
You can read the full article, here.
The Mises Institute via ZeroHedge/Thorsten Polleit
You Think The Global Economy Is Brightening? Beware: The Big Hit Is Yet To Come
Relief is spreading among economic analysts and stock market experts. Energy prices are decreasing noticeably. The energy supply this winter seems secure; in Europe, government support for consumers and producers is available if needed. China is turning away from its zero-covid policy, and production is ramping up again. High goods price inflation is still a major concern for consumers and producers, but central banks are delivering at least some interest rate hikes to hopefully reduce currency devaluation. So should we bid farewell to crisis and recession worries? Unfortunately, no.
You can read the full article, here.
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