Precious metals are back in the spotlight in 2023 as signs of economic slowdown continue to surface and cause uneasiness among investors, in turn driving up the appeal of safe havens.
Gold cracked $2,000 an ounce on Monday for the first time in a year, as metal traders reacted to Sunday’s news that a deal was reached for UBS to buy Credit Suisse.
Over the past year, relentlessly rising interest rates (because of the global fight on inflation), are putting pressure on borrowers, who are reportedly deeper in the red than ever before.