Gold to Hit $3,000 in New Year 2023?

Dec 6, 2022

Gold could hit $3,000 sometime in 2023.

That’s just one of the outrageous new year predictions from Saxo Bank.  In fact, according to the firm, it expects for gold to cross $2,075 before rocketing to $3,000 on unstoppable inflation.  

“Fed policy tightening and quantitative tightening drives a new snag in U.S. treasury markets that forces new sneaky ‘measures’ to contain Treasury market volatility that really amounts to new de facto quantitative easing,” says Saxo, as quoted by

Also, according to Standard Chartered’s head of research Eric Robertsen, as noted by, gold could rally to $2,250 an ounce in 2023.  He notes gold could rally as Bitcoin falls, “with investors switching focus from the digital version of gold to the real metal, as cryptocurrencies fall further and more crypto firms succumb to liquidity squeezes and investor withdrawals.”

If that’s the case, investors may want to consider gold stocks such as:

Barrick Gold (GOLD)

Barrick Gold is one of the biggest companies in the gold industry.

Operating mines and projects in 18 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia, its portfolio spans the world’s most prolific gold districts in the world. 

The company, which expects to produce about 4.5 million ounces of gold per year through 2030, is also maintaining its 20-cent dividend.  

VanEck Vectors Gold Miners ETF (GDX)

One of the best ways to diversify at less cost is with an ETF, such as the VanEck Vectors Gold Miners ETF (GDX).  With an expense ratio of 0.51%, the ETF holds positions in Newmont Corp., Barrick Gold, Franco-Nevada, Agnico Eagle Mines, Gold Fields, and Wheaton Precious Metals.

 Sprott Junior Gold Miners ETF (SGDJ)

With an expense ratio of 0.35%, the SGDJ ETF seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, the Solactive Junior Gold Miners Custom Factors Index. The Index aims to track the performance of small-capitalization gold companies whose stocks are listed on regulated exchanges.  Some of its top holdings include Lundin Gold Inc., Seabridge Gold, Equinox Gold, Victoria Gold, Westgold Resources, Osisko Mining, K92 Mining Inc., and Novagold Resources to name a few.

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