The World Bank has said it expects the price of gold to rise by 3% in 2022 but warned the price might fall sharply if the Russian central bank decides to offload large quantities of the commodity.
The Russian Factor
After the price of gold surged past the $2,000 mark in early March, a new World Bank report now predicts the commodity’s value will only grow by just 3% in 2022. The bank, however, said it expects prices of commodities like food — which have risen by 84% — and crude oil to stay elevated for much of 2022.
While some gold supporters have predicted the price of the metal will likely hit a new all-time high, in its report, the World Bank is