Gold price may jump to $4,000 per ounce in 2023

Al-Anbat: Mohammad Allahham

The chief investment officer at (Swiss Asia Capital), Juerg Kiener, said that the price of gold may jump to $4,000 per ounce in 2023, due to fears of a global economic recession, according to the FX global economic website.

In an interview with CNBC television, Kiener said Thursday night that rising interest rates and fears of a recession keep the market volatility in check, which could push the price of gold to a level between $2,500 to $4,000 per ounce, indicating a good opportunity, the gold market will witness a big move next year.

It is expected that many global economies will witness a slight recession in the first quarter of the next year, which will prompt central banks to slow down the pace of tightening monetary policies and raise interest rates, which will make gold more attractive.