BNP Paribas' from Gold Price is a $6,000 Forecast.

A Bold Gold Price Forecast from BNP Paribas

BNP Paribas SA Commodities Strategy Director David Wilson predicts that if macroeconomic and geopolitical risks continue, the price of gold per ounce could reach $6,000 by the end of the year. Wilson emphasized that the gold-silver ratio has started to rise again and that current levels remain below the two-year average of 80. However, he noted the possibility that this divergence could continue.

Gold and Silver Market Dynamics

Wilson pointed out that gold serves as a stronger hedge compared to silver. He stated that purchases by central banks and ETF inflows have had a positive impact on gold prices. In particular, Poland's announcement of a 150-ton gold purchase and the Chinese Central Bank's continuous gold purchases for the past 15 months indicate strong official demand. It has been observed that ETF inflows have maintained a steady trend, apart from a slight correction last week.

Weakness in the Silver Market

On the silver side, there is notable weakness in physical demand following the high volatility experienced in recent months. With metal supply shifting towards European and Asian markets, the upcoming Chinese New Year holiday is expected to negatively affect demand for the white metal. David Wilson reminded that prestigious financial institutions such as Deutsche Bank and Goldman Sachs support the rebound of gold due to long-term demand factors.