It is the new year 2023 and this is my 1st post about Gold and commodity for 2023. I have lots of new and interesting findings on this subject, but in this posting, I would like to flash back to see how is gold performing since my last posting about it here. For those that also need to be refreshed, please read my previous posting (Manipulating the Gold Commodity)
In the last paragraph of that posting (date 2022-10-13), I mentioned “my concern is the music nearly stops.” I did wish you all good luck. As for today, I can tell, some of us are making a handsome profit in Gold.
It is a ‘modest’ up trend at +13.89% and 231pt up.
I did remind myself on 2022.11.1 with a chart (I will share later) and latest on 2023-1-11 (I will share later) a FB posting in participation for an up-trend that day.
If you observed, there are some indicators and news that alarm this. As much as I like gold to keep on the up trend, in this commodity trade, it is always up and down. Just at how much and when. Gold can still get a bit more downtrend, BUT as 2023 just begin, gold is looking for new support, and I hardly see a solid indication for any huge downtrend in the near time.
US Banks Ready for Recession — Report
Some top US banks are preparing for an economic slowdown amid depressing forecasts of fourth-quarter profits, due to be released this week.
“With most US economists forecasting either a recession or significant slowdown this year, banks will likely incorporate a more severe economic outlook,” wrote Morgan Stanley analysts, as cited by Reuters.
The six largest US lenders are also expected to report an average 17% drop in net profit in the fourth quarter from a year earlier, according to preliminary estimates from Refintiv.
With the economy, trade data, job data, consumer data, and recession alerts from central banks, it is time seriously consider looking at your own investing and savings portfolio. Do you prepare for it with some gold? I highly suggest you start now. Start with this Quantum Metal gold account for example. It is free to register and backed by physical gold, with lots of options to manipulate your gold.
Good luck all.
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I am a lecturer in the Interactive Media Department, Faculty of Information and Communication Technology and currently on study leave doing a PhD research study. My research relates to the performance model using analytic data. I am also interested in technopreneur, research and innovation activities in multidisciplinary fields.