The gold market remains optimistic. Several analysts expect the precious metal to exceed the level of $1,900 per ounce later this week amid a decline in inflation.

The U.S. Federal Reserve (Fed) is expected to slow down raising interest rates amid a decline in inflation. Regarding this, gold begins to rise in price, becoming more and more appealing for investors.

Ace investor Peter Grandich supposes that soon, the majority of markets will weaken. However, some assets are underestimated. These are gold and silver.

In anticipation of new data on U.S. inflation, oil is stabilizing after five successive days of growth. There’s also an increase in crude oil purchases registered in China on the eve of the Lunar New Year holidays.

MKS PAMP has posted a price forecast for platinum, silver, gold and palladium. The annual report includes possible average prices as well as minimal and maximal levels for the precious metals.

Minister of Energy of the Republic of Kazakhstan Bolat Akchulakov said that the first January oil shipment plan from Kazakhstan to Germany via the Druzhba pipeline may include sending 20,000 tons. Overall, Kazakhstan may deliver 1.5 million tons of crude in 2023.

It was reported that the U.S. Interior Department appointed Elizabeth Klein as head of the Bureau of Ocean Energy Management.

The survey of foreign investors and analysts showed that the trend for rising costs of precious metals, which started at the end of 2023, will remain in the new year.

Platinum was the most profitable precious metal in 2022, rising by 11%. However, the global platinum market might face a deficit of approximately 300,000 ounces by the end of this year.

Gold climbed to $1,880 early in the week, settling at an eight-month high. U.S. inflation data for December will be closely monitored on Thursday. Economists at Commerzbank say that the official data will further support the metal.