VIDEO — David Morgan: Silver, Gold, Stock Market — What to Expect in 2023

David Morgan: Silver, Gold, Stock Market — What to Expect in 2023youtu.be

As precious metals wrap up a lukewarm year, what's the outlook for silver and gold in 2023?

David Morgan, publisher of the Morgan Report, said he expects next year to be good for silver, but not great. He sees the white metal getting above the elusive US$30 per ounce mark, but pointed out that it could face obstacles.

"We'll have to see what happens," he said. "Last time we got near US$30, very close to it. Rostin Behnam of the (Commodity Futures Trading Commission) came out and said they had to tamp down the silver market. What kind of a free market is that?"

When it comes to gold, Morgan spoke about central banks, which he said want to transition to a new digital financial system, but at the same time have not held such high amounts of gold in their vaults since 1975.

He expects to see more "smart money" move into gold in 2023, but likely not much retail demand unless there is a black swan event. If that happens, the gold market could move from its current walking pace to a jog, a run or even a sprint.

Looking at the overall stock market, Morgan said investors are approaching a decision point.

"The reality check that I talked about earlier is going to be where you have to make a decision," he said. "Reality is sinking in, but some people are indecisive, and they buy into the mantra that you hold for the long term, buy and hold — no matter what happens, buy, buy, buy. Well, if you had that attitude in the Great Depression you'd have to wait 25 years to break even."

Continuing, he said that in general he wouldn't recommend any conventional assets at the moment.

"On a broad brush perspective, I wouldn't want to be in stocks, I wouldn't want to be in bonds, I wouldn't want to be in real estate. I wouldn't want to be in crypto. So where do we go? Precious metals," Morgan concluded.

Watch the interview above for more of his thoughts on silver, gold and the stock market in 2023.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.