MKS Pamp Group/Staff/January 2023

“Our macro view is to play for a slower Fed and rising stagflation & recession risks which will ensure both peak US$ and peak real US yields. Inflation will fall, but not to target and the recoveries will be uneven and will ultimately disappoint. That setup has already ensured Gold pivoted from trading defensively for most of 2022, to trading offensively where dips are actively capitalized on, establishing a new technical bull trend after the Fed ended its 75bp hiking regime in November 2022.”

USAGOLD note: A detailed review of the prospects for precious metals in 2023 from Swiss refiner MKS Pamp Group – includes gold, silver, platinum, and palladium base case, bullish case and bearish case scenarios.