With gold gaining close to 15 per cent over the last year, investors increasingly feel that it may lose out steam going forward. However, we believe that it’s just a trailer for a blockbuster movie. Historically, gold has delivered positive returns in times of recession as investors perceive it as the best hedge in times of uncertainty. We believe that the most important factor that should work in favour of gold is the Fed and other major central banks moving closer to peak rates and perhaps lower towards the end of 2023 or early 2024. The recent commentary of major central banks suggests that they would now prefer ... (full story)