Will gold price go down in 2023?

There was no upward trend in gold, whereas at any other time in the past gold would have been rebounding under those circumstances. We cannot rely solely on the gold price chart to determine which of the two scenarios is more likely. The World Gold Council, the market development organization for the gold industry, recently opined that the commodity will face two key obstacles. However, the position of the gold cycle also showed the high probability of a sudden movement in the price of gold, often associated with a crisis situation (war, recession, etc.).