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Artigas explained that while most economists expect central bank tightening to push the global economy into a mild recession, there are growing concerns that the world is headed for a more severe recession. The idea that the Federal Reserve can orchestrate a soft landing has all but been relegated to the realm of hopes and dreams."Historically, tightening cycles have ended in a recession," he said."The more severe the recession, the better gold does.
Along with the health of the global economy, WGC said that another factor gold investors need to pay attention to is the strength of the U.S. dollar. With the Federal Reserve forecasted to halt its tightening cycle by the first half of next year, there is a growing consensus that the U.S. dollar has seen its peak.
Analysts have noted that if inflation falls and interest rates remain elevated, real rates could continue to rise, which is negative for gold prices.
Source: News Formal (newsformal.com)
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