BNP Paribas Wealth Management has set a 12-month gold price target of $5,000 per ounce, implying over 20% upside from current levels. Shafali, Head of Investment Services Asia at BNP Paribas Wealth Management, told Bloomberg that the forecast is driven by a projected 3.5% decline in the U.S. dollar over the next year, fueled by inflation and debt concerns, as well as a need for diversification. She noted that 89% of central banks surveyed by the World Gold Council plan to increase gold allocations, and retail ETF inflows are expected to return as geopolitical tensions ease. The bank also cited President Trump's pressure on the Federal Reserve for lower rates as a factor weakening the dollar and supporting bullion.
BNP Paribas SABNP Paribas Wealth Management issues bullish gold forecast, potentially boosting its investment services business.
