CICC: Gold Price to Post a Siginiciant Increase in 2023

According to a research report released by China International Capital Corporation (CICC), gold price is expected to post a larger increase in 2023. CICC believes that as the US inflation falls, the Federal Reserve will be driven to slow down the pace of interest rate hikes and even start the cycle of interest rate cuts. The company believes that gold price is already on an upward trend, with the potential to break through $2,075 per ounce and even reach $2,300-2,500 per ounce.