The price of an ounce of gold increases on Wednesday on world stock exchanges. In the afternoon she crossed it USD 5,100, which means an increase of almost 2%. compared to Tuesday. After conversion into Polish currency, it amounts to almost PLN 18,100.
Silver prices are seeing an even greater daily jump. After an increase of over 6%. an ounce costs over $86. This is the equivalent of approximately PLN 305.
After the recent turmoil in gold and silver prices, everyone is asking whether prices can continue to rise in both cases? And if so, where is the ceiling?
The price of gold will reach $6,000. per ounce? New forecasts
“By the end of the year, the price of gold may reach 6,000. hole. per ounceand the ratio of the precious metal to silver is likely to increase due to continuing macroeconomic and geopolitical risks,” said David Wilson from BNP Paribas, quoted by Bloomberg.
The agency indicates that gold's prospects are also supported by continuous purchases by central banks, including Poland. He reminds that the National Bank of Poland announced last month that it would purchase another 150 tons of gold.
See also: Gold price records. The National Bank of Poland is considering purchasing another precious metal
“Flows into bullion ETFs also remained stable, with only a brief decline during last week's correction before recovering,” it said.
If the price of an ounce of gold actually reached 6,000. dollars, this would mean an increase of about 17%. relative to the current valuation.
See also: The silver price is coming back after a spectacular decline. Experts say whether it will exceed the $200 mark.
Bloomberg highlights that silver has been extremely volatile in recent months, driven by intense physical purchasing, especially in Asia. However, the market is currently showing signs of weakening as supplies of the metal flow into Europe and Asia. According to David Wilson from BNP Paribas, the upcoming Lunar New Year is likely to further weaken demand for this white metal in China.
