From page 55 of How to Grow Your Wealth in 2023:
“Overall, the gold futures have the lion's share of our interest (as referenced earlier in this Outlook). We wrote about the silver/gold ratio and how classically, that has been a reliable indicator for inflation. Our thesis, though is that both do well, but gold explodes higher and faster."
The weekly chart in SPDR Gold Shares (NYSE:GLD) has cleared the 50-week moving average with a strong finish for the first week of January. We predict that gold prices could double.
Central banks' failed policies, possibly leading to more economic chaos, and the weakening of U.S. dollar are just a few market drivers to look for.
Several factors, including inflation, industrial demand, low inventories, market tightness, and the gold-silver price ratio at near historic levels, lead management to believe silver is also likely to increase dramatically in 2023.
“Both gold and silver are in bullish weekly phases. Both well outperform the benchmark. Both have a lot of upside to go in momentum. Should the 50-WMA in Real Motion crossover the 200-WMA, then that would be the final technical indicator to suggest much higher prices to come. I am going to go out on a limb here and say that gold can see $5000 an ounce by 2024.”
And that’s not all we predict.
In our ten macro themes with visual perspectives, we cover geopolitical challenges, climate change, inflation pressure, social unrest, and government expenditures, to name a few.
Furthermore, many of our top picks have already begun to make big moves- just in the first week of the year.
Names like Teck Resources (NYSE:TECK) and emerging markets such as Mexico (EWW) had an explosive week.
Last year, many investors were caught unaware of the impact higher interest rates would have on the indices and overall equity markets. But not us.
We closed out the year in the green. And after this past week, we are up substantially-already well, outperforming the S&P 500.
ETF Summary
- SPDR® S&P 500 (NYSE:SPY): 384 support and 392 resistance.
- iShares Russell 2000 ETF (NYSE:IWM): 172 pivotal support and 180 resistance.
- Dow Jones Industrial Average ETF Trust (NYSE:DIA)): 330 support and 337 resistance.
- Invesco QQQ Trust (NASDAQ:QQQ): 265 support and 272 resistance.
- S&P Regional Banking ETF (NYSE:KRE): 56 support and resistance 61.
- VanEck Semiconductor ETF (NASDAQ:SMH): Support is 205 and 216 resistance.
- iShares Transportation Average ETF (NYSE:IYT): 208 pivotal support and 215 is now resistance.
- iShares Biotechnology ETF (NASDAQ:IBB): 130 is pivotal support 138 overhead resistance.
- S&P Retail ETF (NYSE:XRT): 60 pivotal support, and 66 is now resistance.