Central banks resumed trend of consistent monthly net buying during 2022*...
Russians bought an all-time record number of gold bars in 2022, finance ministry data showed on Friday, as tax cuts on precious metals encouraged people to stock up on bullion as a safe asset.
Gold could shine brightly, similar to 2008, where investors seek safe haven amid uncertain economic conditions.
Gold prices dropped over 2% on Friday to a more than three-week low after stronger-than-expected U.S. jobs data raised fears that the Federal Reserve could keep hiking interest rates.
“The lion’s share of the tightening has now been completed by the Fed and there are elevated risks of recession as the impact of that tightening begins to play out this year. That is likely to mean the US Dollar weakens this year.”