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Below Quote On Gold December 2022 by Mr. Colin Shah, Founder & MD, Kama Jewelry

Gold has picked up in price action massively, rising by nearly $60/oz in the last two weeks alone to trade around $1800 levels. The rise in prices is largely due to the dovish commentary by the Fed on its monetary policy.

Looking ahead to the month of December, the metal looks set to extend recent gains, due to a combination of softer inflation prints, weaker economic data points, and a 90? chance of the Fed hiking interest rates by 50 bps on December 14th.

The $1850 range seems to be the technical level the metal can be expected to reach by the month-end, with further rate hikes looming next year posing headwinds, making investors more cautious.

We expect the metal to retreat by a small margin in the middle of December around the Fed rate hike announcement.”

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