Deutsche Bank said a gold price of $6,000 per ounce is achievable, citing expectations of a softer U.S. dollar this year.

In a note, the bank said a weakening dollar would provide strong support for gold prices, reinforcing the metal’s appeal as a store of value and a hedge against currency depreciation.

Gold has benefited from growing investor interest amid currency fluctuations and broader economic uncertainty, with major financial institutions increasingly raising their price outlooks for the precious metal.