President of the European Central Bank (ECB) Christine Lagarde said that the bank is ready to take all needed actions to bring inflation down to its target level.

According to the forecast of AG Thorson, an expert in the field of technical analysis of precious metals markets, the price of gold in 2023 will exceed the level of 2000 dollars. Thus, a new peak is expected this year.

Hedge funds continue investing in gold for seven weeks in a row, according to the latest trading data from the Commodity Futures Trading Commission.

Trading on Tuesday began with a slight rise in prices for crude oil. The perspective of the whole global economy and the recovery of demand in China, as the largest importer of oil, is under attention, for the moment.

According to Gold.ru analysts, the minimum target of the current gold rally is around $1,950 to $1,975. However, they expect the price to fall back to around $1,850 in the first quarter of the year.

There was a sharp increase in silver prices over the last months of the previous year. Despite their current fall below the level of $24 per ounce and a certain slowdown in the metal’s growth, many expect it to resume.

Goldman Sachs analysts believe the commodities sector is on track for "superior total returns" in 2023, outperforming other asset classes. In particular, gold will be "on the verge of sustained growth".

According to Jonathan Rose, CEO of Genesis Gold Group, the devaluation of the dollar, inflation and U.S. monetary policy are the main drivers of growth in the precious metals market.

Dutch authorities still think that the Groningen gas field, once the largest in Europe, should be closed by October.

In a recent conversation with The Investing News Network, Jeffrey Christian shared his views on the current situation in the gold market.