CICC: Gold Price Has Entered the Upward Channel and Is on Track to Break Through Historical High of $2,075/ounce in 2023

The research report of CICC pointed out that gold price is expected to achieve a relatively high increase in 2023. With the gradual decline of US inflation, it will drive the Fed to slow down the pace of interest rate hikes, and even start the cycle of interest rate cuts. The real interest rate is expected to continue to fall; coupled with the current anti-globalization background, the global monetary system is facing profound changes, and the demand for gold reserves is systematically changing. CICC believes that the price of gold has entered the upward channel and is expected to break through the historical high of $2,075/ounce, and even reach the level of $2,300-2,500/ounce.