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Soros predicts gold exceeding $5000
Businessman Naguib Sawiris's statements indicate his expectation that gold prices will surpass $5,000 per ounce after the conclusion of the American-Iranian war, noting that the current price is close to $4,150. This outlook is due to the ongoing war and its repercussions, which continue to put upward pressure on the precious metal's prices, especially amidst market volatility and increasing expectations of tightening U.S. monetary policy. He also mentioned that his company, Antumetal, has acquired four gold mining areas in Egypt, with estimates of reserves reaching at least one million ounces, particularly in the Eastern Desert, which is considered a promising region, despite some activities being halted due to the war in Sudan.
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