The inflation theme will persist in the New Year both domestically and in the EU, boosting gold, demand. The bullish gold narrative includes increasing demand, lower supply and monetary factors.
Every time there is a reset, gold steps up and does the accounting. Gold and silver have served as the reference point of value since the origins of money and is that against which currency will be re-evaluated.
Speculative interest in gold and silver may not catch fire until there is more clarity about when the Fed will pause or perhaps reverse course on rate hikes.
In 2022 the gold price has started to validate our projection from last December, and 2023 should see a bull move in gold miners emerge for all to see (and one day chase due to FOMO)
It’s not going to get better for the housing market. Despite an 80 basis point decline in 30-yr fixed rate conforming mortgages (20% down, minimum 740 FICO), the mortgage purchase apps index declined 0.1%..
Right from the start, 2022 became the year the stock market imploded with all major indices down and down … and down some more all year long. So far, this is the year Santa’s slay didn’t soar..
Even if the Fed were to change course at this point, it won’t make much difference. Sure, investors would belly up to the bar for another round of cheap credit, but what comes after will be worse.
