According to the latest London Bullion Market Association (LBMA) report, the second quarter of 2023 saw fear of recession and the Federal Reserve’s attempts to curb inflation as the principal drivers of the gold price.
While they weren’t the only two factors, they were however considered as the principal ones. Q2 saw a boost in the gold price compared to Q1 for U.S. investors, and the price of gold went from $1,963.10 during the beginning of April, to around $2,000 by mid-June.
The report also speculates the price of silver, which has seen a trajectory this year and includes the key statistics for both gold and silver in Q1 and H1 of 2023.
To read the full LBMA Precious Metals Market Report: Q2 2023, please click here.