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You are here: Home / Archives for Commodities

Gold Price Prediction 2023! – Is Gold Going Up From May 2023?

by Fxigor

Traders like gold for several reasons. Firstly, gold is viewed as a haven asset that retains value during economic and political uncertainty. It is also a hedge against inflation, as its value tends to rise when inflation rises. Secondly, gold is a highly liquid asset that can provide diversification benefits to a portfolio.

Lastly, the supply of gold is limited, and its price is influenced by supply and demand dynamics, making it attractive to traders who can take advantage of price movements. As a result, gold can be an attractive asset for traders looking to diversify their portfolios, protect against inflation, or exploit supply and demand dynamics.

Gold and global instability

The World Bank has predicted a global recession for 2023, with a projected GDP growth rate of 1.7%. A recession is typically defined as a period of significant economic decline, marked by a contraction in economic activity, a reduction in GDP, and rising unemployment rates.

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The projected GDP growth rate of 1.7% is considered slow and indicates that the global economy will likely face significant challenges in the coming years. The slow growth rate may be due to various factors, including ongoing global uncertainties such as geopolitical tensions, trade disputes, high-interest rates, and several bank bankruptcies in the US.

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A recession can significantly impact individuals and businesses worldwide, with job losses, reduced income, and lower levels of economic activity leading to financial instability and hardship. As such, individuals and companies need to take steps to prepare for and mitigate the impact of a potential recession, including diversifying their investments, reducing debt, and building up emergency savings.

gold price increase

Therefore, the Weak US dollar, high-interest rates (5.25% in May 2023.), and recession impact the gold price rising trend.

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It is a fact that whenever there is global instability or turmoil, any currency is given the backseat because precious metals take over. If we look back and go through the market trends of 2012, when everyone believed that the world would end, gold prices reached a new high, and precious metals enjoyed a bullish market in the next year. History repeated itself in 2020 when gold became the first investment choice for many amidst the rising political and economic uncertainty. 

The yellow metal became the preferred choice of those who aversed to risks and diversified their portfolios.

Gold price today in the USA

XAUUSD Chart by TradingView


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Gold Price Forecast 2023

Based on the high US interest rate, weak US dollar, and recession continuation, gold price prediction for 2023. shows a potential $3000 at the end of the year. If the recession escalates, the gold price forecast can reach $3800.

Several factors can explain the potential increase in gold prices. Firstly, high US interest rates can lead to a weaker US dollar, making gold more attractive. Gold prices rise when the US dollar weakens as investors seek safe-haven assets to protect their investments.

Secondly, the continuation of the recession can also contribute to an increase in gold prices. This is because investors tend to move their money into safe-haven assets like gold during economic uncertainty, which can help protect their portfolios from market volatility and uncertainty.

Combined, these factors suggest that the price of gold could reach up to $3000 by the end of 2023. However, if the recession escalates, the cost of gold could rise even further, up to $3800.

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Is Gold Going Up?

Yes, the gold price is going up in 2023. because of the following factors:

  • The real Interest rate is high, but inflation is still high.
  • US Inflation is rising.
  • Investors invest in metals more than in bonds.
  • Potential continuation of recession in 2023.
  • Technical analysis shows a bullish pattern on daily, weekly, and monthly charts.

Gold price forecast for 2023. year close is around $3000.However, silver is going up faster than gold.

We are well into the first half of 2021, and while everyone is hopeful because of the vaccine, its manufacturing is still limited. Moreover, many people are displaying adverse reactions to it. We can see the economy recovering, and people are slowly returning to their old routines, but will this be enough? Let’s see what the analysts have to say about the yellow metal.

An analyst at Capital Economics, Samuel Burman, shared his views. He believes there will be a significant recovery in economic activities because people have started getting vaccinated. He also sees the probability of further selling ETFs backed by gold. However, despite considering economic recovery, he is optimistic about gold. According to him, finding an effective vaccine will not bring down gold prices, and 2021 will be suitable for gold.

He also believes that persistently low US yields will likely support gold demand. This will ultimately offset a large chunk of weakness associated with a rise in risk appetite.

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Sharing their gold price forecast, Goldman Sachs’ analysts firmly believe their bullish outlook for the yellow metal will persist in the upcoming year. It is likely to reach a price target of $2,300 per ounce. They continue that the structural bull market for this precious metal is not yet over. They think it will resume in 2021 as inflation is expected to increase. It will subsequently weaken the US dollar. However, they maintain that it might be difficult for gold to sustain any momentum in the market in the short term.

fundamental analysis for gold

Robert Kiyosaki is a well-known investor and finance guru, best known for his book “Rich Dad, Poor Dad,” which has sold millions of copies worldwide. He has a long history of making bold predictions about the financial markets, and his latest forecast is that gold will reach $3,800 an ounce by the end of 2023.

Kiyosaki has been a vocal proponent of gold as a hedge against inflation and economic uncertainty. He believes that the unprecedented levels of government spending and money printing in response to the COVID-19 pandemic will ultimately lead to inflation and a decline in the value of the US dollar. According to Kiyosaki, this will drive up the price of gold as investors seek out safe-haven assets.

Kiyosaki’s prediction of $3,800 an ounce of gold by the end of 2023 is a significant increase from current levels, with gold trading at around $1,800 an ounce as of May 2023. While it is difficult to predict future market movements with certainty, Kiyosaki’s prediction is based on his analysis of the current economic and political landscape and his belief that gold is undervalued relative to other assets.

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Let’s Do a Quick Recap

Before we dig deeper into the gold forecast for this year, let’s quickly revise the latest trends that can potentially drive gold value in the future.

Political and economic instabilities fuel these precious metal prices. More uncertainties mean higher gold prices and the year 2022 was full of nothing but these uncertainties and shocks on a global level. As a result, investors, to hedge their portfolios, have moved to metals, especially gold and silver. They are adding these to their holdings in every shape and form.  Gold bullions, stocks, exchange-traded funds (ETFs), and whatnot. This, in turn, is lifting the gold’s value higher.

In 2023, inflation was also on everyone’s mind, and with other issues. As governments tried to compensate for the damages done by Covid-19 in the form of quantitative easing and fiscal stimulus, trillions of dollars were allowed to enter the global economy. McKinsey conducted research and concluded that this 2023’s stimulus had already exceeded the previously taken measures during the global crisis of 2008-2009.

As more currency was circulated, investors felt its value had decreased. This encouraged them to switch from the USD to precious metals, especially gold.

If we are talking about the near future, the most important factor determining if gold prices will go up or not is the coronavirus. The cases start going down by the end of 2022, but now the world leaders are bracing themselves to deal with its second wave. The issues have started to rise again, and the governments are talking about reinstating lockdowns. In some places, the governments have already imposed short-term lockdowns. This will make things even more difficult for the already struggling economies. If the governments decide to introduce a new stimulus plan or fresh fiscal, gold prices will be higher.

The question again is if gold prices will go up in the future. It will depend on whether or not the global economy continues to remain stagnant. In addition, factors like the continuation of the pandemic and continuously rising geopolitical tensions will impact the already disturbed international trade. Unfortunately, it doesn’t seem like the situation is getting any better. If this continues, gold prices will climb higher. The new prices might even break previous records.

Conclusion

Is gold a good investment for the year 2023? While no one can predict any financial instrument’s exact future, it is safe to say that most forecasts favor the metal.

The current recession and high-interest rates indicate a bullish gold trend. However, one must remember that while most projections are generally bullish, the global financial markets remain highly volatile due to the economic crisis. This makes predicting the prices of gold will be rather tricky.

We must focus on the metal prices and think thoroughly before investing.

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If you live in the US, you can invest in Gold IRA and protect your retirement account from recession by investing in gold.

However, if you live outside of the US, you can invest in gold using CFD:

VISIT OANDA - APPLY $10.000 Bonus

Filed Under: Forecast, Gold

How Can I Buy a Barrel of Crude Oil?

by Fxigor

One barrel of crude oil equals 42 US gallons or 159 liters. This is a relatively small quantity compared to the amount of oil produced and consumed globally daily. However, the value of crude oil is determined by a range of factors, including global supply and demand, geopolitical events, and other economic factors, which can influence the price of oil and the profitability of oil producers and refiners.

bonny light crude oil

To put the size of one barrel of crude oil into perspective, consider the following:

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  • One barrel of crude oil can produce approximately 19.5 gallons of gasoline, 9 gallons of diesel fuel, 4 gallons of jet fuel, and 1.75 gallons of other petroleum products.
  • The average passenger car in the US consumes about 0.3 gallons of gasoline per mile, which means that one barrel of crude oil can power a car for about 1385 miles.
  • The US consumes approximately 20 million barrels of crude oil daily, meaning the amount consumed daily is equivalent to over 800 million gallons or 3 billion liters.

So, as we can see, 1 barrel of crude oil is a significant amount.

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How Can I Buy a Barrel of Crude Oil?

You can buy a barrel of crude oil only if you are a company that has a license from the regulatory agency and you have large storage for crude oil. Barrels of oil can be stored in specialized tanks or storage facilities designed to store and transport large quantities of crude oil safely.

Technically, you can buy crude oil several times and make individual Crude Oil storage. However, it is dangerous to store barrels of oil in unsafe conditions.

US Commodity Futures Trading Commission (CFTC) and other regulatory agencies. Depending on the nature and scope of the business, a license or registration with the CFTC or other regulatory agencies may be required.

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Why can you not buy a barrel of crude oil as an Individual?

You can not buy a barrel of crude oil as an individual because of the following facts:

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  • Crude oil is a physical commodity that requires specialized storage facilities and transportation infrastructure.
  • Most individuals do not have access to these resources, and it is impractical and costly for individuals to invest in the infrastructure required to store and transport crude oil.
  • Institutional investors, oil companies, and governments typically buy and sell crude oil in significant quantities.
  • Crude oil prices are subject to fluctuations based on global supply and demand, geopolitical events, and other factors.
  • Stealing crude oil from a storage area is not legal, and doing so can result in serious legal consequences.
  • Storing crude oil in a residential or commercial building is not recommended due to safety hazards and the specialized equipment and infrastructure required.
  • Even if it were possible to store crude oil, it might not be practical or profitable, as its price fluctuates based on global supply and demand.
  • Individuals can invest in crude oil through financial instruments such as futures contracts, exchange-traded funds (ETFs), and mutual funds that track the price of crude oil.

An individual can’t buy a barrel of crude oil for a few reasons.

As a result, individuals cannot buy a barrel of crude oil like they can buy stocks or other financial assets. However, individuals can invest in crude oil through financial instruments such as futures contracts, exchange-traded funds (ETFs), and mutual funds that track the price of crude oil. These instruments allow individuals to invest in crude oil without needing specialized storage or transportation infrastructure.

Filed Under: Oil

Can I Buy a Barrel of Gas?

by Fxigor

A barrel is a unit of measurement for crude oil, with one barrel equaling 42 US gallons or 159 liters. However, natural gas is typically measured in cubic feet (ft3) or cubic meters (m3) rather than in barrels.

This difference in measurement is because crude oil and natural gas have different physical properties. For example, crude oil is a liquid that can be easily measured in terms of volume, whereas natural gas is a gas that is typically measured in terms of its heat energy content.

Therefore, natural gas is typically measured in units of heat energy content, such as British thermal units (BTUs) or joules, rather than volume units. For example, a standard unit of measurement for natural gas in the United States is the thousand cubic feet (Mcf), which represents 1,000 cubic feet of natural gas with a heat content of approximately 1 million BTUs.

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But let us play with numbers:

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1 barrel of natural gas is equivalent to approximately 6.29 Mcf (thousand cubic feet) at standard temperature and pressure (STP), defined as 0 degrees Celsius and 1 atmosphere of intimidation.

Natural gas storage looks like this in the image below:

natural gas storage

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So, let us answer the question:

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Can I Buy a Barrel of Gas?

No, you can not buy barrels of gas because, in theory, 1 barrel of gas should be approximately 6.29 Mcf (thousand cubic feet), and that is 178.29 m3 (approximately). Therefore, storing natural gas in a house or warehouse is not recommended because it is too large an amount of gas and can be a safety hazard.

Storing natural gas in a house or warehouse can be a safety hazard and is not recommended. Natural gas is highly flammable and can pose a serious risk of fire or explosion if not stored and handled correctly. In addition, keeping natural gas in a residential or commercial building without proper ventilation or safety measures can lead to health risks, including carbon monoxide poisoning.

Furthermore, storing large quantities of natural gas in a residential or commercial building is impractical. It requires specialized equipment and infrastructure to compress and store the gas safely and securely. Most households and businesses lack the necessary storage facilities to store natural gas safely.

It might not be economically feasible or profitable even if it were possible to store natural gas in a house or warehouse. Natural gas is a commodity bought and sold in the global market, and its price is subject to fluctuations based on supply and demand, geopolitical events, and other factors. Therefore, storing natural gas for an extended period could result in a loss if the price drops or there is no demand for it.

 

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Storing natural gas in a residential or commercial building is not recommended due to the safety hazards and specialized equipment and infrastructure required. Additionally, it may not be practical or profitable to store natural gas for an extended period, as its price fluctuates based on global supply and demand.

 

Filed Under: Gas

Is Precious Metals a Good Career Path?

by Fxigor

Precious metals have long been seen as a safe investment, but for some, it is more than just an asset. For many, working with precious metals can be a great career path. Whether looking to buy or sell jewelry, coins, bullion, or works of art, such investments can provide a solid revenue stream.

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Is Precious Metals a Good Career Path?

Yes, precious metals can be a good career path because it is related to 9 interesting job profiles such as:

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  • Mining engineer: Mining engineers extract and process precious metals from the earth.
  • Metallurgist: Metallurgists work with metals, including precious metals, to develop and improve manufacturing processes.
  • Precious metals trader: They buy and sell precious metals for clients or employers.
  • Jeweler: Jewelers work with precious metals to design, create, and repair jewelry.
  • Refinery worker: Refinery workers are involved in the processing and refining of precious metals, including separating them from other minerals and metals.
  • Assayer: Assayers test and analyze the purity and quality of precious metals to ensure that they meet industry standards and regulations.
  • Precious metals analyst: Precious metals analysts study market trends and provide insights into the supply and demand of precious metals, as well as their prices and value.
  • Coin dealer: Coin dealers buy and sell rare and valuable coins, many of which are made from precious metals.
  • Pawnbroker: Pawnbrokers often deal in precious metals, including buying and selling gold and silver jewelry.

When considering this career path, the first consideration is the ability to understand the different types of precious metals and how their prices react in the marketplace. As with any other commodity, there are volatile moments when certain precious metals may rise in value while others decrease. When starting in this field, it’s essential to understand these fluctuations and anticipate them so that you can make intelligent decisions when buying and selling your commodities.

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Another factor to consider is the cost of getting started in precious metal trading. While it may not be as expensive as some forms of financial investing (such as stocks), specialized equipment and tools must be purchased upfront before dealing with precious metals. Additionally, having access to reliable sources that can provide accurate information on market trends and prices will also help you maximize profits from this venture.

Beyond the financial aspects of trading precious metals, there is also the potential to create beautiful works of art from these materials. Jewelers and goldsmiths have been working with precious metals for centuries, crafting items with monetary value and aesthetic appeal. Making jewelry or artwork from precious metals requires skill and experience – something that will take time and effort to acquire if someone begins from scratch. Once mastered, it can be both a creative outlet and a lucrative career opportunity.

Why are precious metals dealers lucrative job profiles?

A precious metals dealer can be a lucrative job for several reasons, including:

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  • High demand: Precious metals, such as gold and silver, have been used as a store of value and a medium of exchange for centuries. As such, these metals are constantly demanded, particularly during economic uncertainty or inflation.
  • Price appreciation: Precious metals have historically appreciated over time, making them a valuable long-term investment for individuals and institutions. This price appreciation can result in significant profits for precious metals dealers who buy and sell these metals at the right time.
  • Limited supply: Precious metals are relatively rare, and their supply is limited. As such, the prices of these metals can be volatile and subject to market fluctuations, which can create opportunities for dealers to buy and sell at favorable prices.
  • Diversification: Precious metals are often used as a hedge against inflation and market volatility, and as such, they can be an essential component of a diversified investment portfolio. Dealers who offer a range of precious metal products and services can attract a broader customer base and potentially increase their profits.
  • Value-added services: Many precious metals dealers offer value-added services, such as storage, grading, and authentication, which can increase their revenue streams and differentiate them from their competitors.

 

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Overall, a precious metals dealer can be a lucrative job because of the high demand for these metals, their potential for price appreciation, and the limited supply of these metals. Additionally, dealers offering value-added services and a broad range of products can increase their profitability and attract a loyal customer base.

For those interested in investing in rare coins or antique pieces made with gold or silver, many outlets are available to learn more about these marketplaces and what makes certain items valuable. Research into numismatics (the study of coins) or understanding how specific craftsmen’s work has become increasingly sought after over time due to its scarcity or quality craftsmanship can pay off significantly when trading in these areas if appropriately done – though again, expertise will need to be acquired here too before entering these markets confidently.

Overall, becoming involved with buying or selling precious metals takes dedication and effort – however, if done correctly, it can be gratifying, financially and creatively speaking too!

In my opinion, the most lucrative precious metals job is gold and silver trading because you can use leverage and start with a smaller investment. In general, it is recommended to start with a smaller investment amount and gradually increase as you gain experience and confidence in your trading strategy. This can help you manage your risk and avoid significant losses. It’s also a good idea to seek advice from a financial advisor or other professional before investing.

If you like bills and coins, you should learn more about Gold and Silver IRAs. You can protect your retirement fund if you invest in IRA precious metals. Investors with gold IRAs can hold physical metals such as bullion or coins. Get a free pdf about Gold IRA.
GET GOLD IRA GUIDE

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If you do not want to own them in physical form precious metals, you can trade gold, silver, and metals as CFD with the minimum commission:

Trade Gold & Silver

Filed Under: Commodities

What is the most Valuable Precious Metal?

by Fxigor

Rhodium is a scarce and valuable precious metal prized for its unique properties for centuries. It is primarily used in jewelry and high-end decorative items but has several industrial uses, such as being part of automobile catalytic converters.

rhodium

What is the most Valuable Precious Metal?

The most valuable precious metal is Rhodium because of its extreme rarity and high demand in the car industry for catalytic converters. The average Rhodium price in 2023. was $8300 per ounce.

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Why Rhodium is the most valuable precious metal:

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  • Rarity: Rhodium is one of the rarest elements on earth, with an average concentration of only 0.0002 parts per million in the earth’s crust.
  • Unique properties: Rhodium has unique physical and chemical properties, making it highly valued in various industrial applications. It is tough, durable, and resistant to corrosion.
  • High demand: Rhodium is in tall order for various industrial applications, especially in producing catalytic converters for automobiles, which are used to reduce harmful emissions. It is also used in electronics, aircraft turbines, and other industrial applications.
  • Jewelry industry: Rhodium has become increasingly popular in the jewelry industry, where it is prized for its bright white color and reflective properties. This demand has further increased the value of rhodium.
  • Limited supply: Rhodium supplies are limited and difficult to obtain, as it is often produced as a byproduct of platinum and palladium mining and refining.
  • Market fluctuations: Like other commodities, the price of rhodium is subject to market fluctuations and can be influenced by various factors, including supply and demand, geopolitical events, and economic conditions. In recent years, rhodium prices have increased significantly due to increased demand and limited supply.

Regarding physical characteristics, Rhodium is silvery white and very malleable. It is one of the hardest metals known to man, making it highly resistant to scratches and other damage. In addition, it has a boiling point of around 5900 degrees Fahrenheit and a melting point of 3695 degrees Fahrenheit, so it can endure extreme temperatures without losing its strength. Rhodium also has a very high reflectivity rating — up to 40x more than gold or silver — meaning that much of the energy is reflected rather than absorbed into the metal when light strikes it. This makes it ideal for jewelry where sparkle and luster are desired effects.

Regarding chemical properties, Rhodium is highly stable and non-reactive; it does not rust or tarnish quickly due to its low reactivity with air or water. It is also one of the densest elements on the periodic table — almost twice as dense as gold — which makes it perfect for use in jewelry settings where small amounts can be used while still having a significant presence.

Rhodium’s rarity contributes significantly to its value; estimates suggest only around 1 gram of rhodium per 10 billion grams of Earth’s crust— making it 35 times rarer than gold! As you’d expect from such a precious metal, rhodium commands a hefty price tag; in 2022. one troy ounce (31 grams) sold for over USD 9000!

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Though mainly used in decorative applications, Rhodium has some industrial uses, too, primarily as catalytic converters found in automobile exhaust systems (where its low reactivity helps reduce harmful emissions). It can also be found in specialized electrical components thanks to its high conductivity rating — though this application does not require large quantities, so there isn’t much demand for pure rhodium here compared to other metals like copper or gold, which are more commonly found in electronic components.

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The allure and appeal behind Rhodium have made it an incredibly sought-after precious metal across the globe, from wealthy investors looking to add this rare commodity to their portfolio to everyday people who appreciate its beauty when crafted into jewelry pieces and decorative items. There is denying that this silvery-white metal holds an undeniable fascination amongst many people today!

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