It is expected that the price of gold will reach $6,000 per ounce by the end of President Donald Trump's term, according to Frank Holmes, CEO of "U.S. Global Investors".

Holmes stated that this increase is driven by the restructuring of the global financial system, a decrease in reliance on the dollar, and unprecedented increases in gold purchases by governments, especially China.

Holmes added: "I believe the goal is to reach $6,000 during President Trump's term. If tariffs increase by 25%, the dollar will decline by a similar amount".

Gold maintained a price close to $3,300 per ounce on Friday, after reaching a peak of $3,509 earlier last week, before dropping by $200. While JPMorgan expects gold to reach $4,000 within 12 months, Holmes believes there is greater room for increase if central banks around the world continue their current pace of buying.