by Craig Hemke, Sprott Money:

The biggest story of 2023 is not a function of IF the Fed will pause and then pivot to rate cuts. Instead, it’s a matter of WHEN will this shift take place. This monetary policy change is coming, and it’s actually much closer than you think.

And, obviously, this is the key to gold prices as the year progresses. As long as the Fed keeps hiking—and is expected to continue hiking—the COMEX gold price is unlikely to sustain any moves to the upside. However, as history has taught us, once the Fed shifts back to easing, the gold price will rally. The question on your mind should be: when will this shift occur?