Gold Price Forecast: XAU/USD target range for 2023 set at $1,900 to $2,000 – Wells Fargo Gold XAUUSD Banks Metals Commodities
“Gold has positives, but its negatives have been directing prices for some time now. The Dollar's 2022 ascent to a 20-year high was Gold's most potent negative, but the 2023 flattening and then reversal lower in the Dollar's value that we expect should relieve some pressure on Gold.”
“Our 2023 target range of $1,900 to $2,000 reflects in-line commodity performance plus a bit extra, while Gold appears oversold. We caution investors, though, not to be too aggressive with Gold until it shows better price action.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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