According to Saxena, inflation will peak this year and fall sharply in the second half of the year. He went on to explain that in most countries of the world there is huge debt at all levels. For this reason, the increase in US interest rates will not last long.
Regarding the large capital flight into commodities, the expert said that there should be a large capital outflow in this sector as soon as there is positive news about developments in Ukraine. He sees late cyclical behavior here and therefore will no longer bet on commodities. Before prices in this market begin to rise again, there must be a significant decline, Saxena said.
The gold market should also see a decline in prices, but it should be much weaker than, for example, crude oil, gas, etc. In general, gold has lost demand as a “safe-haven asset” due to cryptocurrencies and therefore rose in price relatively modestly.
Saxena, however, does not believe that stock prices will fall further. Investors who are willing to invest in counter-trend stocks will likely be able to capture all of the company's growth over the next ten years, he said.