Here’s how much gold will rise in 2023

Amid rising interest rates, Recession concernsBanking volatility and a close call Possible debt crisis, It is not surprising More Americans looking for gold For some stability in 2023.

Historically, people have turned to gold as a hedge against inflation and as a store of value used for other market volatility. This year, demand has helped its price as gold’s appeal has grown because of those attributes Growth throughout the year.

Here’s a rundown of exactly how much gold prices have changed this year and why now might be a good time for it Consider adding gold in your portfolio.

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How much will gold rise in 2023?

2023 has been one Great year for gold investors — showing impressive growth from 2022, when it ended the year it started.

“Gold has had an impressive run from its 52-week low in late 2022 to early May of this year, rising more than 25% in that time,” said Mel Mattison, CFP, a financial services professional and consultant.

Considering this year alone, the price of gold is up nearly 6%. As of early January 2023, gold was around $1,850 an ounce, according to spot price data. World Gold Council. Now, gold prices are around $1,960 an ounce as of early June 2023.

“While many gold bulls were optimistic that we were on our way to a new all-time high, this recent run did not definitively break through the all-time high of $2,070 an ounce,” Mattison said.

Still, gold prices have been hovering around the $2,000 mark for some time and some experts predicts that they will go higher Between the rest of this year and next. With ongoing economic uncertainty and growing signals from the Fed about the next interest rate move, more people may be interested in gold. The field of moral education.

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How you can benefit from diversification with gold

It’s not worth considering if gold prices are high – in fact, gold can make a good addition to your portfolio In any economy.

Gold is often used for diversity, which may help offset other market volatility. While investing in traditional stock and bond investments is important for long-term growth, allocating a small portion to gold can help you weather a recession (experts recommend About 5% to no more than 10%)

consider S&P 500, an index made up of the stocks of some of the largest publicly traded US companies, is often used to track how the market is doing. Year-to-date returns for the index, right now, are over 11%. But in 2022, the index reported a The annual loss is over 19%.

Although the price of gold did not rise much in 2022, it could not sustain such significant losses either. If your portfolio is comprised of both traditional investments and diversified assets like gold, you could have offset some of last year’s losses while still taking advantage of today’s gains — and Keep doing it As the market fluctuates in the future.

If you’re interested in investing in gold, consider talking to an expert who can help you find the right plan for your portfolio today.

Bottom line

as far as gold standard 2023 is on a positive trajectory. While it’s impossible to predict what the future may bring, experts say there is plenty economic reasons Pointing to continued growth in gold throughout the year. But regardless of these short-term price movements, gold can be a worthwhile investment for anyone seeking a diversified portfolio.

If you’re looking for ways to weather potential downturns in other markets, consider whether gold might be a good addition to your investment plan. Learn more about the options you have today with a free investment guide