Gold Price to go Up as Inflation Hedge in 2023? | Gold Chart Analysis

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Gold will most likely end the year flat (it’s trading -2% YTD at the time of recording), making it actually one of the best performers compared to many other major assets like stocks and indices. The impact of the U.S. dollar seems to be the main factor investors and traders are focused on when it comes to the gold price in 2023. With an aggressive policy of rate hikes from the FED, gold had a tough time this year and couldn’t fulfil its designation as an inflation hedge. But another factor could also be at play next year. Despite the rate decisions from the world’s largest central banks, they have remained buyers of the precious metal. This combined with demand from mid-tier banks, as well as retail investors, could generate a rally. Let us know in the comment where you think gold is headed next, as well as the main factors you think will determine its price. Give us a thumbs up if you liked our gold price analysis for 2023 video and make sure to subscribe to the Capital.com channel for more silver oil coverage! 00:00 Intro 01:24 Gold 2023 fundamental analysis 16:08 Gold price support and resistance levels 17:52 Gold 2023 technical chart analysis 22:45 Recap *** Explore trading and start investing with Capital.com. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This video is for general information only and is not intended to provide trading or investment advice or any personal recommendations.  The information in this video is indicative, and may become out of date at any given time. Capital.com shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video.  Any information relating to past performance of an investment does not necessarily guarantee future performance. Please remember spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage,  You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Invest only what you can afford to lose.  These products may not be suitable for all clients, we therefore recommend that you seek independent advice and ensure you fully understand the risk involved before trading.  You do not own, or have any interest in the underlying assets. Professional clients can incur losses that exceed their deposits when spread betting and trading CFDs.