David Wilson, Head of Commodity Strategy at BNP Paribas, stated that gold prices could climb to $6,000 per ounce by the end of the year, driven by persistent macroeconomic and geopolitical risks, with the gold-to-silver ratio also expected to rise.

He noted that although the gold-to-silver ratio remains below its two-year average, it has already rebounded.

"I believe there is still room for further divergence between gold and silver," he said in an interview. "For me, gold's advantage lies in its ability to provide risk protection that silver cannot match."

The outlook for gold is further supported by continued purchases by central banks. Last month, the National Bank of Poland announced plans to approve the acquisition of an additional 150 tons of gold. Gold ETF inflows have also remained stable, experiencing only a brief decline during last week's correction before recovering.

Many banks and asset management firms, including Deutsche Bank and Goldman Sachs Group, are optimistic about gold prices, citing long-term demand drivers as key supports for the metal.