Gold is perceived as a safe-haven asset, a long-term investment and a hedge against uncertainty in the global economy and geopolitics.
The outlook for gold remains unclear this year, according to pundits.
In addition to economic and geopolitical uncertainties, factors such as continued weakness in the US dollar, growing recession risks and the high bond-equity correlation make a positive tactical case for gold in 2023, according to the World Gold Council.
Spot gold prices moved upward over the past six months with slight volatility to peak at US$1,950 per ounce in January, from $1,700 in September last year, according to data compiled by goldprice.org.
Prices started to…
