The price of gold could rise to $6000 per ounce by the end of this year amid ongoing geopolitical and macroeconomic risks. This forecast was announced by BNP Paribas commodities strategist David Wilson, according to Bloomberg.

He said that the gold-silver price ratio continues to grow and has the potential for further expansion. Although the ratio remains below the two-year average of around 80, the dynamics of recent months indicate a strengthening of demand for gold as a more reliable safe-haven asset.

Wilson noted that silver does not provide a comparable level of protection against global risks. At the same time, gold is supported by steady purchases from central banks. In particular, Poland announced its intention to purchase an additional 150 tons of metal after becoming its largest buyer last year.

Stable inflows into gold ETFs remain an additional growth factor. Although there was a short-term decline during the recent correction, investor interest quickly recovered.

Silver, in turn, has shown increased volatility due to strong physical demand, especially in Asia. However, there are now signs of a slowdown in the market as metal supplies to Europe and Asia increase.