This Analyst Says Gold Could Rally to $4,000 in New Year 2023

Dec 22, 2022

Gold could hit $3,000 sometime in 2023, we said on December 6.

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

Nowadays, there’s an even more bizarre gold prediction making the rounds.

According to Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital, as noted by CNBC, gold could rocket to $4,000 in 2023. All as inflation persists.

As also noted by CNBC: In addition, as noted by CNBC: Kiener explained that many economies could face “a little bit of a recession” in the first quarter, which would lead to many central banks slowing their pace of interest rate hikes and make gold instantly more attractive. He said gold is also the only asset which every central bank owns.

Even Michael Cuggino, CEO of the Permanent Portfolio Family of Funds, as noted by, says gold can move a lot higher. It would “not be an unreasonable move” for gold to breach $4,000, he said. Others – like analysts at Bank of America—have a more realistic view, believing the metal cold soar to $2,000 next year. Commerzbank sees gold at $1,850, which we’re nearing now, by the close of 2023.

Then again, crazier things have happened.

While $4,000 gold may not happen next year, we still believe gold will push aggressively higher. And if that’s the case, consider gold trades 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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