Gold Is One Step Away from Its Own Record

     The precious metal, gold, recently traded around 2040 USD, at levels only 2% away from the previous highs of 2089 USD reached in August 2020. Gold enthusiasts are predicting an explosive rise.

     Investors and professionals have invested in gold, anticipating a change in FED policy while the economy of the United States of America slows. If the dollar is weak and bond yields are also falling, these point to an expected slowdown in monetary policy, which supports the gold price.

     This year's banking crisis has increased people's appetite for precious metals, even though the Federal Reserve has developed measures to strengthen citizens' confidence in banks.

     When the world begins to feel afraid, investors look for ways to protect themselves, and gold can be classified as one of those protections, a safe-haven asset.

     Specialists believe that the price of gold will reach the 2100 USD level, assuming it will continue to accelerate afterward. What will the growth be for the whole year 2023? Some believe it will reach 2500 USD, while others point to this year's huge potential, even reaching 3000 USD.

So far, everything has gone according to plan...

     The strengthening of the gold price in recent years was forecast in our 2019 post, where we offered an in-depth analysis of this financial asset and 3 price targets for investment at that time.

     The first target with a price of 1520 USD was reached in the same year. The second target point, with a price of 1770 USD, was reached in 2020. And a little later, the gold chart rose to its historical high, thus also fulfilling the third target, where it settled for almost three years and remains until now.

     In the same 2019 post, we tried to forecast when gold should approximately reach its historical high, and it seems that everything is going according to plan...

Further investment outlook

     In the image above, it can be seen that at that time there were actually much more distant forecasts for gold's future. Our view remains the same until now, and we believe that in the coming years the price of an ounce of gold can easily rise toward 2700 USD, which is why it should be part of a stock-market investor's portfolio.

     Gold is one of the oldest investment assets in history. Many investors believe in gold, while others despise it. But few would deny that the yellow metal plays a unique role in financial markets, offering a store of value unlike any other asset.

     Whatever your opinion about gold, analysts agree that gold holdings can play an important role in a diversified investment portfolio. Gold may or may not be a particularly good hedge against inflation, but there is no doubt that it preserves its value over the long term.

     Owning physical gold is costly and difficult. Thus, buying gold stocks is an excellent way for individual investors to get the exposure they need in their portfolios.

     Next, we will list gold-focused financial assets suitable for adding to an investment portfolio.

The best gold ETFs for investment in 2023:

• SPDR Gold Trust (GLD) - a low-cost alternative to holding physical gold or buying gold futures.
• iShares Gold Trust (IAU)
• VanEck Merk Gold Trust (OUNZ)
• Abdrn Physical Gold Shares ETF (SGOL)
• ProShares Ultra Gold (UGL)
• Goldman Sachs Physical Gold ETF (AAAU)
• GraniteShares Gold Trust (BAR)
• Invesco DB Precious Metals Fund (DBP)

The best companies (focused on gold) for investment in 2023:

• Barrick Gold (GOLD)
• Franco-Nevada (FNV)
• Newmont Corporation (NEM)
• BHP Group (BHP)
• Centerra Gold (CGAU)
• Equinox Gold (EQX)
• Kinross Gold (DBP)
• Agnico Eagle Mines (AEM)
• Gold Fields (GFI)
• Compania de Minas Buenaventura (BVN)
• Wheaton Precious Metals (WPM)

     To correctly create an investment portfolio, ask for help from our experienced specialists! Also, Trading.md cooperates with European banks, through which we obtain and provide direct access to purchases of stocks, gold ETFs, and other classes of financial assets.

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