Press Release

Charles Reed Cagle: Gold Prices Projected To Rise In 2023

Industry expert Charles Reed Cagle projects that gold prices will rise in 2023, and he’s not the only one. Many industry experts, not just Charles Reed Cagle, believe that gold prices will rise significantly in 2023. Some experts even predict that gold could hit $4,000 per ounce, smashing the previous record gold price. There are multiple factors that could contribute to gold prices rising steeply. Here’s what Charles Reed Cagle wants you to know about gold prices in 2023.

Experts Are Bullish On Gold for 2023

Gold prices have increased steadily for many years, but prices may spike dramatically in 2023. In fact, one expert believes that gold prices may double within the next year. Other industry experts feel that gold prices will rise over the next 12 months, just not quite this steeply. There are several factors in the global economy that are working together to drive up gold prices. This is why there is a near-unanimous belief among experts, including Charles Reed Cagle that prices will rise in 2023.  

Why Gold May Hit $4,000 Per Ounce

A History of Rising Prices

One of the biggest factors that gold prices are projected to rise is the historically high return an investment in gold offers. Gold has appreciated an average of 8% to 10% per year since 2000. This return would be nearly impossible to get in the bond market and difficult to sustain in the equity market.

Many investors are attracted to gold due to its decades-long history of increasing prices. This increases the demand for gold significantly. Of course, this increased demand results in higher prices. 

Increasing Demand From Asian Governments

The vast majority of central banks hold significant gold reserves. In recent years, central banks have purchased a great deal of gold. However, 2022 saw central banks purchasing more gold than ever before. The previous record for gold purchases by central banks in one quarter was 241 tons, a record which was set in 2018. However, central banks purchased 400 tons of gold in the third quarter of 2022, nearly doubling the previous record.

Of course, the high level of demand from central banks drives prices up even further.  

Hedging Against Volatility

Gold has historically been seen as a hedge against volatility. This is why many investors turn to gold when the stock market is quite volatile. Gold is also a hedge against high inflation. 

Learn More About Charles Reed Cagle

Charles Reed Cagle is an expert on gold having run a successful gold mine Oregon and a successful precious metals processing plant in Chile. Charles Reed Cagle has also had a successful career in the oil industry. You can learn more about Charles Reed Cagle by visiting his website. Here, you can learn more about him and his work. Charles Reed Cagle also has a blog on his site where you can learn more about the natural resources sector.

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