Shafaq News/ Iraqis should invest ingold as prices may surge this year, a financial and economic expert said onWednesday, citing US “trade wars” as a key factor.
"All economic indicatorssuggest that gold prices will rise in 2025," expert Mohammed Al-Hasanitold Shafaq News, forecasting that an ounce of gold could exceed $3,200 beforethe year's end.
Explaining the reasons behind thisincrease, Al-Hasani cited the "trade wars" triggered by the UnitedStates imposing high tariffs on imported goods, with other countries respondingwith similar measures. This, he said, will drive up demand for gold as asafe-haven asset.
He also noted that the "inverserelationship between gold and oil" contributes to rising gold prices amidsuch tensions.
Given these factors, the expertadvised Iraqis to seize the opportunity and invest in gold now, predicting thatthe price of one mithqal (4.25 grams) of 21-carat gold could reach 670,000Iraqi dinars ($510.2) by the end of the year—provided the US dollar remains atits current levels in the local market.
As of today, an ounce of gold standsat $3,039, while a mithqal of 21-carat gold is priced at 626,000 Iraqi dinars($475.76) in local markets.