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TD Securities: Gold will show steady growth in the second half of 2023
As TD Securities economists predict, during the next months the price of gold will fall to $1,600 and below. Nevertheless, in the second half of next year, the metal will surpass the $1800 mark.
From March to September this year, the price of gold dropped significantly. In March it was $2,070, by the end of September the price dropped to $1,615.
It’s reported that in the first quarter of next year, the price of gold could be $1,575, as it will be affected by real and nominal rates. Thus, gold's recent rally isn’t a sign of a steady growth.
At the moment the US Federal Reserve is on its way to easing monetary policy. For this reason, gold is likely to reach $1,800 after the first quarter of 2023.
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