Gold is a valuable asset and has gained popularity as a form of investment. It provides more stability and acts as a hedge against inflation.

The gold price forecast for 2023 has various driving factors to consider, such as US dollar, Geopolitical concerns, Inflation and Interest rates.

According to the World Gold Council’s quarterly report, demand for gold (excluding OTC) in Q3 increased by 28% year over year at 1,181t.

In a survey, the majority of investors rated diversification and inflation-hedging as the primary factors to hold gold in their portfolios.

The second half of 2022 will be challenging for investors, needing to navigate rising interest rates, soaring inflation and geopolitical issues.

The precious metal is firmly placed in its rightful position as a tangible portfolio diversifier and inflation hedge, given the current market situation.