The Prospector News Publisher is joined by Jeff Christian of the CPM Group for an annual review of the markets and a look ahead to 2024. The CPM Group had a good year in projecting the markets with only the level of decline in the Palladium and Rhodium markets as outliers (CPM projected declines just not as large as that occurred) Gold finished the year at a new annual average price record high and silver had modest gains as was expected by CPM’s data.

The Fed also followed the CPM script in 2023 with a leveling off of interest rates at the end of the year. Jeff says although he was not surprised by the “dovish” comments at the end of the year he was surprised by the over ebullience of the markets to go and project more rate drops than have been telegraphed by the Fed.

In 2024 the CPM group still expects a rise gold prices to an annual average price of around $2050 with modest gains in silver (mainly in the last quarter of the year) Recession is still on the horizon but they don’t expect it to be as deep or as long as past projections. The wild card in everything in 2024 will be Politics both domestic (US based) and International as there are several elections in many countries that could cause upheaval in economies and markets worldwide.

To Follow Jeff and the CPM Groups projection and Market Commentaries