Prins: Gold on Track for $6,000 as Physical Demand Remains Strong

Nomi Prins, macroeconomist and author of Permanent Distortion, believes gold is still on track to reach $6,000 an ounce by year's end despite a recent pullback. She attributes the decline to paper trading rather than weakening physical demand.

Prins expects silver to rebound to her January target of $120 an ounce, citing a structural supply deficit and ongoing physical demand. The metal has recently corrected from nearly $122 an ounce but remains supported by fundamentals, in Prins' view.

Copper prices are also seen as reinforcing her longer-term outlook, trading more closely to physical fundamentals than other precious metals. Prins expects copper to reach $7 a pound by year-end after climbing as high as $6.71 in May.