Sorry Gold Bugs, Gold and Silver Prices Could Face a ‘Particularly Tough 2023,’ Here’s Why

"Gold and silver have outperformed equities," and we have to be happy with their performance thus far outside of the U.S. dollar, claims Philip Newman, managing director and founding partner for precious metals consultancy Metals Focus. Philip contends that October's inflation numbers cause the Fed to reconsider its aggressive strategy, sparking greater interest in the precious metals market. He says, "the market thinks the Fed will perhaps take a slower pace of rate increases, will we start to see some [investors] move back in? I think it is possible." Philip also asserts that the precious metals sector doesn't offer a viable safe haven for investors, despite a recent rally in the space. He says, "Gold and silver may struggle to hold onto some of these gains." Philip concludes, "It's difficult to read too much into one reading... [Yields moving higher] will be the ultimate headwind for gold and silver." #ratehikes #gold #metals ⭐️ Join Daniela Cambone's exclusive community ➡️ ➡️ Follow us on Facebook: ➡️ Follow us on Twitter: ➡️ Follow us on Instagram: ➡️ Follow us on LinkedIn: 00:00 What will the Fed do next? 2:49 Will a lower U.S. dollar help drive the price of gold and silver? 3:20 Why haven’t the medals performed better? 4:33 Recent crypto market fiasco and its impact on precious metals investing 5:30 Why are many central banks buying gold? 7:22 Russia and China are holding mysterious amount of gold 8:53 Why hasn’t the market sentiment been reflected on the gold price? 11:25 JPMorgan manipulated the gold market 12:31 The forecast for gold and silver