Carley Garner: 2023 should breathe new life into gold and silver

According to Carley Garner, co-founder of DeCarley Trading, if the U.S. Fed stays hawkish on interest rates, it could disappoint markets and provide a number of opportunities to buy precious metals.

Speaking with the financial research firm Stansberry Research, Carley Garner opened up about her outlook for precious metals and the U.S. dollar.

She highlighted that the Fed's aggressive rate hikes caused the dollar to rise. The persistent strength of the US dollar pushed down the prices of precious metals in 2022. She believes that the rally in the greenback is depressing prices of gold.

Carley Garner expects the dollar to weaken soon, easing pressure on gold and silver prices, which will lead to an upward trend. 

According to the expert, 2023 is likely to breathe new life into gold and silver. The yellow precious metal could rise to $2,100, while silver could hit $30.