LBMA Precious Metals Market Report: Q3 2023
Throughout this year, the US Federal Reserve Bank, along with most of the developed world’s central banks, have battled inflation. Experts such as economists and commentators have expressed the ironic view of “Good news is bad news”. By that, they mean that the economic resilience in the post-pandemic environment is making inflation stickier than Powell and the experts were hoping it to be.
“Conversely, bad economic news is normally good for the gold price, and so it proved through the first quarter of 2023.”
Explaining further about the above statement, the report continues, stating that the price of gold has remained in positive territory through the first three quarters of 2023. It recorded a gain driven by the strong first quarter of +1.93% year to date and moreover, a gain of +55.7% in the five years since the end of September 2018 - a performance matched by few of any other major asset classes including US equities.
To read the full LBMA Precious Metals Market Report: Q3 2023, please click here.
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