The IMF recently released a forecast for a global recession in 2023. The decline in economic growth is observed, including in the United States. The fact is that the Fed is raising interest rates to reduce inflation, but lending is becoming more expensive. In such conditions, a decline in business activity is possible. Additional factors in the onset of recession include rising energy and food prices, as well as escalating geopolitical instability.
Against this background, in September, the US Mint sold 88.5 thousand ounces in gold investment coins "Eagle" and "Buffalo," which is 20% higher on a monthly basis, but at the same time 11% lower on an annualized basis. In general, since the beginning of the year, the company has supplied customers with 1.26 million ounces of gold, which is 7% higher on an annualized basis. These data indicate strong demand for the physical yellow metal amid the strengthening dollar, which led to a decrease in the precious metal exchange rate to an almost 2-year low.