Gold prices expected to rise to $5,000 per ounce
Gold prices expected to rise to $5,000 per ounce
2025-03-21 00:13
Shafaq News/ Egyptian businessman Naguib Sawiris expects gold prices to reach $5,000 per ounce in the near future, believing the precious metal will remain a safe haven for investors, especially in light of global economic fluctuations.
In an interview with Sky News Arabia, Sawiris stated that the cost of producing an ounce does not exceed $30, making investing in gold one of the safest and most profitable investments in the long term.
He added that international tensions, such as the war in Ukraine and tensions in the Middle East, have prompted many investors to move away from stocks and bonds and turn to gold as a safe haven.
Last Wednesday, financial and economic expert Mohammed Al-Hasani called on Iraqi citizens to invest in gold, predicting a rise in its price this year.
Al-Hasani told Shafaq News Agency, “All economic indicators indicate that gold prices will witness a rise during the current year,” expecting that “an ounce of gold will reach more than $3,200 before the end of 2025.”
He explained that “the trade wars waged by the United States, which imposes large tariffs on imported goods, and the corresponding measures taken by other countries, will increase demand for gold as a safe haven for investors,” noting that “the inverse relationship between gold and oil causes gold prices to rise in light of these tensions.”
Al-Hasani emphasized that “Iraqis can benefit from investing in gold by purchasing it now,” predicting that “the price of a mithqal of 21-karat gold will reach 670,000 Iraqi dinars by the end of this year, if the dollar price in the local market remains at its current levels.”
shafaq.com
