Europe’s concerns about the recession are exacerbat.

Brent prices are forecast to achieve the fourth quarter of 2022 close to $95 per barrel levels and to remain there in 2023.

The Federal Reserve’s hawkish outlook has put significant downward pressure on the rupee this year, contributing to a YTD decline of more than 10%.

Although many metal prices have recently corrected by more than 40% from their top in 2022. We think that the ripple effect of same would keep metal prices in check.

Gold, a safe-haven asset, performs best in harsh times and suffers in an environment of rising interest rates; at the moment, we are witnessing the best of both worlds in action.