Juerg Keener, managing director and chief investment officer of Swiss Asia Capital, spoke on CNBC’s “Street Signs Asia” yesterday (Dec. 21). ) that the price of gold could rise to the range between $ 2,500-4,000 next year.
He explained that the economy in many countries may face a “Minor recession” in the first quarter of next year. This could encourage many central banks to delay their interest rate increases and make gold more attractive immediately. ready to add that Gold is the only asset that every central bank has.
According to the World Gold Council (WGC), several central banks bought 400 tonnes of gold in the third quarter of 2022, almost double the record level of 241 tonnes in the third quarter of 2018.
Kenny Polkari, senior market strategist at Slatestone Wealth, disagrees with the prediction that gold prices could more than double next year. despite high demand for gold “I don’t think gold will hit $4,000, although I would love to see it go there,” he said on “Street Signs Asia” today (December 22).
However, gold prices rose on Tuesday (December 20) as the dollar weakened after the Bank of Japan announced a revised bond yield framework. The announcement sent gold prices up 1% above $1,800 before plunging yesterday. as the dollar recovers
