Think about what you readJust read an article on Kitco by TD securities which forecast gold price flat throughout 2023 and back to current level by end of 2024.
This statement implies a hard recession and high interest rates till 2024. What it doesn't look at is the impact on US GDP falling say 5%, higher unemployment, higher deficent spending, and an accelerating debt to GDP ratio ( say 130% by end of 2023).
The US federal reserve (J. Powell) has no more ammunition other than interest rates to moderate wild swings in the economy. He will move earlier than later because later could be deflation! That was the result in the 1930's and FDR devalued the $US 70% by increasing the fixed price of gold from $20.67 to $35 simply to increase inflation.
The TD article is nothing more than a marketing pitch for people to sell their gold. Why are gov'mts around the world buying record amounts of gold!?
If this does happen, we will have even bigger problems!