Gold had a strong rally in early 2023, reaching a 9-month high of $1959 in February before declining to $1808 by the end of the month (-7.71%). However, industry experts believe that gold’s outlook has improved since then.

Almost exactly a year after Russia launched a full-scale invasion of Ukraine, we hoped there would be some resolution or cease-fire. But unfortunately, the opposite has happened.

On January 19, 2023, former Fed Vice Chair Lael Brainard boldly proclaimed “inflation is cooling.” Brainard, whom President Biden named his new top economic advisor less than a month after these statements, may have made the latest misguided inflation soundbite from the Federal Reserve.

Gold rightfully earned the moniker “crisis commodity.” For many millennia, it has proven itself time and time again as a store of value, a respected medium of exchange, and a hedge against economic crises. It is a tangible asset with limited supply and persistent demand that often increases in value during economic turmoil.

Gold is a fascinating asset. It’s almost as if the worse things seem, the stronger the case gets for its upside. Gold’s in the middle of a strong bull rally and is up almost 5% year-to-date and over 18% since November 3, 2022.

About a year ago, the world faced another COVID variant and inflation that was no longer “transitory.” Yet something bigger was about to occur, and there were already whispers of it. A month and a half after New Year’s Day, on February 24, 2022, Russia did the unthinkable and shook up the world order.