Jeffrey Christian: 2023 is a transition period for gold

In a recent conversation with The Investing News Network, Jeffrey Christian shared his views on the current situation in the gold market. According to the managing partner of CPM Group, in the very first weeks of the current year, there has been a surge of interest in the yellow metal from institutional investors and independent wealthy individuals.

According to Christian’s opinion, this year will become a transition period for gold in general. He expects rates to continue rising, although in a smoother manner, and he also anticipates further cooling of inflation in the U.S.

His forecasts for 2023 are moderate. Christian said that by mid-year, a low of $1,700 to $1,720 per ounce might be expected for the gold price. He also forecasted subsequent growth in the price to the level of about $2,000 by the year’s end. In his view, the price of the main precious metal might get slightly weaker in the second and third quarters after some strengthening at the beginning of the year, and then, he sees it getting stronger again in the last quarter of 2023.