Will gold and silver go up in 2023?

While the bank has lowered its forecast for gold, analysts said they don't see a total drop in price action, as growing economic uncertainty is supporting some degree of support. Interestingly, the InvestingHaven research team has hit the mark with their gold price forecasts for 5 consecutive years. Kitco (News): The gold market has been struggling to attract steady upward momentum, and has fallen under the weight of rising interest rates, forcing a Canadian bank to lower its forecast for the Live Gold Price and silver.