Gold Price Set to Skyrocket

Gold price recently hit a 3-month high, and the U.S. bankruptcy filings was only the latest trigger. Indeed, the upward trend in the gold price has been ongoing for some time. The reasons can be identified in two main factors: the easing inflationary pressures in the U.S. and the expectations of lower interest rate hikes. 
In December 2022, consumer prices in the U.S. fell for the first time in over two years, fueling hopes for a further decline in inflation. Furthermore, the collapse of the SVB and FRB was followed by a jump in the price of gold, confirming that the interest in gold historically increases in times of uncertainty in the banking and financial sector. 
According to the Labor Department report, U.S. consumer prices rose 6.5% annually in December 2022, as expected, following a 7.1% increase in the previous month. Gold is expected to close the year with a large increase in total, even if it could experience small ups and downs throughout the year. 

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