Why Gold Is An Attractive Investment In 2023

Dec. 29, 2022 11:53 AM ETGold Spot Price (XAUUSD:CUR)GLD, IAU9 Comments
Muhammad Umair profile picture
Muhammad Umair


  • Gold could hit $2,500 per ounce in the coming year due to the strong fundamental and technical outlook.
  • Due to long-term inflation expectations the Treasury yield has fallen below 4.0%, resulting in a bearish bias in the U.S. dollar index, a positive factor for the gold market.
  • Gold inside bars for 2021 and 2022, above the base support of $1,680, implies that any breakout from $2,075 would take gold prices to $2,500 quickly.

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stack of shiny gold bars on financial gold price graph 3d illustration


Consumer Price Index measures inflation

Consumer Price Index (Fred)

Personal Consumption Expenditure (PCE)

Personal Consumption Expenditure (Fred)

Monthly chart for US Dollar Index

US Dollar Index (Stockcharts.com)

Gold Yearly Chart with Inside Bars

Gold Yearly Chart (Stockcharts.com)

Yearly chart for gold market

Gold yearly chart (stockcharts.com)

Monthly chart for gold market

Gold monthly chart (stockcharts.com)

geopolitical risk

Geopolitical Risk Index (World Gold Council)

This article was written by

Muhammad Umair profile picture
Muhammad Umair, PhD is a financial markets analyst, advisor and investor with over 15 years of experience in financial markets. He is the founder of Gold Predictors, a web application that publishes in-depth analysis and educational materials on the forex, gold, and silver markets using advanced analytical techniques. He has transformed the world of trading and investing by developing superior forecasting techniques and analyses that have up to 95% accuracy in price points and timing. The high-quality analysis and trading ideas, available at the Gold Predictors website, are the result of extensive research and testing of trading strategies on live accounts over time. He believes that the precious metals sector currently has the most potential. As a consequence, it is his main point of interest to help traders and investors make the most of that potential.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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