Part 1/12:

Gold and Oil Markets: Outlook and Key Drivers for 2023

The precious metals and energy markets are shaping up for an intriguing second half of 2023, driven by a complex mix of geopolitical events, economic trends, and monetary policies. Recent sharp movements in gold prices, coupled with projections for oil, reflect broader investor sentiment and macroeconomic dynamics that could influence the trajectory of these essential commodities.

Gold Price Dynamics and Catalysts

Gold has rekindled investor interest, approaching levels not seen since March 2022 when it hit $2,075 an ounce amidst the geopolitical turmoil caused by Russia's invasion of Ukraine. Back then, the flight to safety was the primary driver, with investors seeking refuge from escalating conflicts and uncertainties.