World Gold Council Reports Doubling of Gold Prices in Five Years

Gold prices have doubled in the past five years, according to John Reade, Chief Market Strategist at the World Gold Council. The surge, unaffected by the dollar’s value, reflects global crises such as COVID-19 and geopolitical tensions.

Reade highlighted gold’s stability amidst market fluctuations and its increased demand, particularly in emerging markets like Egypt, India, and China. He anticipates further price increases driven by consistent central bank purchases.

Andrew Naylor, Regional CEO for the Middle East at the World Gold Council, noted significant gold trade growth in Turkey and Egypt, with plans to enhance Egypt’s gold market infrastructure. Sameh Eltorgoman, CEO of Evolve Investment Holding, expressed commitment to advancing Egypt’s gold markets in collaboration with the World Gold Council.

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