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Credit Suisse: the backdrop for the precious metals market is going to improve in 2023
The situation for cyclical commodities is likely to remain volatile and challenging. But Credit Suisse experts suggest the value of gold could rise at the end of 2023.
Strategists believe the backdrop for cyclical commodities will continue to be unfavorable next year. Meanwhile, central banks are expected to further tighten monetary policy, hitting the peak of their hawkishness. These measures may improve the outlook for precious metals and, in particular, gold.
As regulators take the risk to trigger a sharp growth slump, experts note a probability of gold prices rising over time. It is premature to build direct exposure, according to the strategists, but a reasonable move is to look for medium-term upside potential.
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