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Craig Hemke at Sprott Money: Finding order in chaos
By Craig Hemke
Sprott Money,Toronto
Wednesday, December 7, 2022
It's that time of year when analysts and prognosticators begin issuing their forecasts for the year to come. This is always challenging business, and predicting 2023 promises to be even more difficult than usual.
My initial thoughts on 2023 are that it will be much like 2010 and 2019, years where an early or unexpected Federal Reserve pivot to loosening and quantitative eashing drove strong gains in the Comezx precious metals. That part of the next 12 months seems a certainty. The only question is timing -- and that's the hard part.
... Dispatch continues below ...
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Take, for example, this year. I missed on my year-end price targets because the Fed has taken longer to pause/pivot than I expected. Part of the reason for the slower than forecast monetary policy shift was the fact that the initial stage of the rate hiking policy was itself delayed by the Russian invasion of Ukraine.
So this forecasting stuff is tricky in its own right. And then, when you have to deal with timing and unexpected geopolitical events, it gets downright challenging and nearly impossible. ...
... For the remainder of the report:
https://www.sprottmoney.com/blog/Finding-Order-in-Chaos-December-06-2022
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