HANetf: gold’s rise is just beginning

The gold market had a solid start to the year. Its significant potential was noted by European funds, as investors are getting more and more interested in the yellow metal.

In November, analysts from HANetf surveyed wealth fund managers, and the majority of them expressed a preference for expanding their gold reserves in 2023. A total of 100 specialists from European countries and Great Britain took part in the survey, and 89% of them said they intend to invest more in gold.

As it was said by the surveyed managers, the main growth driver for gold prices is the demand for this precious metal from central banks.

The managers also noted that besides the mentioned demand, gold is still an alluring way of hedging against inflation and persistent volatility in the markets.

Eric Strand, portfolio manager and creator of the European-listed AuAG ESG Gold Mining exchange-traded fund, stated that gold might easily be on the verge of a new bull market. Strand suggests that gold prices might rise by 20% over the current year.