Key takeaways
- Gold prices are nearing all-time highs amid economic uncertainty, a weaker dollar and inflation
- Gold mining companies and ETFs are also up so far in 2023
- The precious metal is sensitive to macroeconomic factors, so it could dip in the future – but so far, so good for gold this year
Gold: the oldest valuable commodity in the world, the subject of many songs and a solid investment option during a recession. The price of gold has rallied in recent months, breaking the $2,000 per ounce barrier this week for the first time since 2020.
The ‘safe haven’ commodity’s price is driven by a number of factors which are all working in gold’s favor at the moment. It’s leading some experts to draw the conclusion that we could see gold prices continue to break their own records in 2023 and beyond.
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