Gold could reach $6,000 per ounce by year-end, according to Société Générale analysts, who called the forecast “probably conservative” as prices could climb even higher under stress scenarios. The French bank’s projection comes as gold traded abound $5,500 per ounce Wednesday evening, up approximately 23% year-to-date after surging 64% in 2025. The metal broke through the $5,000 barrier for the first time earlier this week, driven by safe-haven demand amid trade and geopolitical tensions. Central bank purchases remain robust, with Goldman Sachs estimating monthly buying will average 60 tons in 2026 as emerging market monetary authorities continue diversifying reserves into gold. Gold extended gains this week after President Trump threatened 100% tariffs on Canadian goods and raised duties on South Korean autos, lumber, and pharmaceutical drugs.