Gold boom ahead? Expert advises Iraqis to act fast

Shafaq News/ Iraqis should invest in gold as prices may surge this year, a financial and economic expert said on Wednesday, citing US “trade wars” as a key factor.

"All economic indicators suggest that gold prices will rise in 2025," expert Mohammed Al-Hasani told Shafaq News, forecasting that an ounce of gold could exceed $3,200 before the year's end.

Explaining the reasons behind this increase, Al-Hasani cited the "trade wars" triggered by the United States imposing high tariffs on imported goods, with other countries responding with similar measures. This, he said, will drive up demand for gold as a safe-haven asset.

He also noted that the "inverse relationship between gold and oil" contributes to rising gold prices amid such tensions.

Given these factors, the expert advised Iraqis to seize the opportunity and invest in gold now, predicting that the price of one mithqal (4.25 grams) of 21-carat gold could reach 670,000 Iraqi dinars ($510.2) by the end of the year—provided the US dollar remains at its current levels in the local market.

As of today, an ounce of gold stands at $3,039, while a mithqal of 21-carat gold is priced at 626,000 Iraqi dinars ($475.76) in local markets.