On Friday, March 21, 2025, gold prices experienced notable fluctuations that sparked considerable debate among market observers and traders. Citizens are increasingly interested in daily, and even hourly, updates on gold prices due to the significant changes that have recently swept through the market.
Current gold prices reflect a diversity based on various carats. The price for 18-carat gold reached approximately 3677 Egyptian pounds, while the more popular 21-carat gold price hit 4290 pounds. The highest quality, 24-carat gold, recorded a price of 4902 pounds, and the gold pound was valued at 34320 pounds. This variety in pricing suggests a complex landscape where market needs differ widely among consumers.
Looking ahead, Saied Embabi, a member of the Gold Division of the Federation of Commercial Chambers, has predicted that the gold market is poised for a rise as Eid al-Fitr approaches. He stated, "Gold prices are expected to rise... potentially reaching 4500 pounds per gram and higher averages." Despite current fluctuations, the overall market performance remains optimistic, showing profits of around 17% thus far this year, encouraging traders and investors to capitalize on present conditions.
The sentiment among experts suggests that holding onto gold rather than rushing to sell—even during temporary price drops—could prevent significant long-term losses. Embabi emphasized that hasty selling may deny traders from realizing substantial potential gains over time. Gold has historically been viewed as a stable and valuable investment, especially in light of impending market trends.
Meanwhile, renowned Egyptian businessman Naguib Sawiris anticipates that gold prices could soar to $5000 per ounce in the near future. He explained that the production cost of an ounce of gold does not exceed 30 dollars, making it an attractive investment option. Sawiris attributed this prospective increase to the ongoing global economic unrest, which has led investors to seek refuge in gold instead of stocks and bonds.
On March 19, 2025, economist Muhammad al-Hassani urged Iraqi citizens to consider investing in gold, predicting a significant rise in prices throughout the year. Al-Hassani stated, "All economic indicators suggest that gold prices will rise this year," and he estimates that the price of an ounce of gold could exceed $3200 by year’s end. Furthermore, he anticipates that the price for 21-carat gold may reach 670,000 Iraqi dinars if the current dollar value remains steady.
On the same day, global market influences were evident as gold witnessed a slight retracement, falling by 0.5% to $3029.86 per ounce according to spot transactions. This dip followed an earlier peak of $3057.21, marking a moment of correction after numerous record highs noted since the start of 2025.
In general, gold prices are not only influenced by domestic markets but also by international events. The Federal Reserve recently maintained the key interest rate at 4.25-4.50% but suggested that two rate cuts are anticipated before the year concludes. This cautious monetary policy environment bolsters gold's allure, as traders see potential for a more accommodative financial landscape, further elevating its investment appeal amid financial market volatility and ongoing geopolitical tensions.
The escalating geopolitical pressures, notably the recent military actions in regions like Gaza that led to increased civilian casualties, also have a hand in swaying investor preferences toward perceived secure assets like gold. Market analysts, such as Kyle Roda from Capital.com, affirm that existing indicators point toward a continued upward trajectory for gold prices, although he also suggested that minor corrections might occur, potentially bringing prices back to the $3000 level before they resume climbing.
As the trends continue, the performance of other precious metals such as silver, platinum, and palladium have seen declines, contrasting gold's persistent gains. Silver dropped by 1.2% to $33.13 per ounce, while platinum fell by 0.4% to $980.75, and palladium decreased by 0.6% to $946.01. The resilience of gold, in light of these conditions and amidst waves of global uncertainty, marks the metal as a strategic investment choice for many during tumultuous times.
While gold prices appear to be experiencing minor setbacks due to dollar strength, the overall outlook remains positive. With continued geopolitical fears and expectations of U.S. interest rate cuts, opportunities for investors in gold remain prominent, suggesting that the current prices may offer ripe chances for long-term investment.
