Gold continues to perform in 2023
Following a staggering 2022, gold in AUD has continued to outperform major assets this year. While most assets plunged last year amid high inflation and rising rates, gold delivered a 7% return. So far in 2023, gold has been spurred on (+7%) by intensifying expectations that major central banks will end their monetary tightening cycle, as well as by fears of a potential recession ahead. As noted in our 2023 Mid-year Outlook, gold may remain well supported in H2 as yields could remain relatively stable and the dollar might weaken. And should global economic conditions deteriorate, gold may experience stronger safe-haven demand during the second half. Continue to website...
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