1. The following chart shows the gold price for the past 10 years. It was trading around $1,300 USD for several years up to mid 2019.It jumped by 50% to trade above $2,000 by mid 2020. It corrected to a low of $1,620 by mid 2022 and has since increased to $1,800.
2. Some analyst expected gold to increase in 2023 by 50%, perhaps to reach $2,700 or higher. The reasons are:
a) A recession in the US may cause interest rate to fall, and a rush to an alternative gold.
b) The central banks around the world increased their purchase of gold significantly during 2022.
3. I have $94,000 USD invested in Gold ETF (GLD) and a Barrick Gold (GOLD). It now shows a loss of $,500. I bought these stocks two years ago. At the worse point, I saw a loss of $30,000. It has reduced, with the recent recovery in the gold price.
4. I intend to invest another $100,000 USD in these assets.
This is a personal view. It is not investment advice.
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