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Gold expected to break $5000 per ounce
Gold industry expert Naji Faraj expects the yellow metal's prices to surpass $5,000 per ounce by the end of the year, after recording a 3% increase over the past two weeks, reaching $6,635—a record high never seen before—marking an increase of more than $400 during that period. He confirmed that the rising prices are due to market uncertainty and heightened fear indicators in global stock exchanges, which have led to increased demand for gold as a store of value and a safe investment. He also anticipates that local gold prices will easily exceed 7,000 Egyptian pounds.
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