Wholesale Direct Metals reviews the latest market data. Gold could soar above $1,600 per ounce — its highest level since 2013 — next year if the Federal Reserve continues to lower interest rates, according to BNP Paribas. It would be the third key psychological level the metal has breached in a year: it edged over $1,400 in July and $1,500 in August. This activity is significant in light of the latest reports filed by Wholesale Direct Metals.