Societe Generale says they've already hit the USD 5000/oz gold forecast and now see gold reaching USD 6000/oz by the end of the year, though it could go even higher

Societe Generale says they've already hit the USD 5000/oz gold forecast and now see gold reaching USD 6000/oz by the end of the year, though it could go even higher.

Societe Generale's upgraded gold forecast indicates a significant bullish sentiment in the market, projecting gold to reach USD 6000/oz by year-end. This outlook reinforces expectations of increased demand possibly driven by macroeconomic factors and inflationary pressures, which could lead to further upside beyond the forecast. Traders should consider how this may impact related assets, especially those tied to precious metals and inflation hedges.