This from Trading Economics:Gold Hovers Near Two-Week Low. Gold...

This from Trading Economics:

Gold Hovers Near Two-Week Low. Gold held around $1,820 an ounce on Wednesday, hovering near its lowest levels in two weeks and remaining under pressure from expectations of continued aggressive monetary tightening. Federal Reserve policymakers promised further rapid interest rate hikes to bring down high inflation on Tuesday, but pushed back against growing fears among investors and economists that sharply higher borrowing costs will trigger a steep downturn. Although gold is widely considered as a hedge against inflation and economic uncertainties, higher interest rates raise the opportunity cost of holding non-yielding bullion. Meanwhile, the US, UK, Japan and Canada officially banned new imports of Russian gold, in a move seen as largely symbolic as Russian exports to the west have already dried up.

Note how the Federal Reserve are confident aggressive rate rises will not result in an economic downturn. Same guys who said inflation was just transitory. Nothing to see here. I'm heavily invested in gold and taking large paper losses but am confident of a turnaround as the US economy falters.

Please note: Commentary not to be construed as investment advice