Gold Outlook Is Buoyed by Hopes for a Less-Hawkish Fed in 2023

Bullish bets on precious metal climb to highest since June

Gold prices finished the year flat, a surprising performance given persistently high inflation. Wall Street doesn’t expect the doldrums to last.

A late-year rally put the most actively traded gold futures contract down 0.1% in 2022, at $1,826.20 a troy ounce, according to Dow Jones Market Data. That marks two straight years of declines for the first time since 2015.