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Gold (GC=F) prices are rising, with BNP Paribas setting a new price target of $3,100 for the commodity for the second quarter of this year, citing an expected increase in demand from tariff chaos.
Yahoo Finance Senior Business Reporter Ines Ferré joins Market Domination hosts Julie Hyman and Josh Lipton to discuss Wall Street analysts' views on gold's potential in 2025.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Also, let's talk about another commodity. In as gold prices have been rising amid tariff uncertainty. What are we hearing from Wall Street about gold?
Well, we have a new price target from BNP Paribas. They are now saying that gold is going to reach 3100 in the second quarter of this year with strategist there saying that the Trump tariff chaos really is driving up demand when it comes to gold. So that uncertainty around the tariff policy, that is adding another layer to boosting gold prices. So you're seeing gold futures up more than 10% year to date. Today we saw gold futures going up as well. What he is saying though, the strategist over there, David Wilson is basically that in the second half of the year, gold is going to struggle going up above that level because gold prices will have already priced in that tariff uncertainty. And unless you have a tariff escalation going into the second half of the year, you won't be seeing prices going up that much higher. But certainly something that the street has been looking at that 3100 level, something also that Goldman Sachs is predicting by year end for sure.
In as, thanks so much. Appreciate it.