U.S. Dollar & Gold Inverse Correlation Weakening

The gold price is trading higher as markets look to extend a winning streak. "Gold is my big call for 2023 due to the potential for the Federal Reserve to pivot and cut interest rates. Also, there is a potential United States and a global recession. The strength in the U.S. Dollar is fading and its inverse correlation with gold is weakening. Where the global economy is fading and central banks do not know how to proceed, you have persistent inflation, which is a recipe for gold to continue its bid," says Bob Iaccino.