Friday 14/March/2025 – 04:39 PM
The data of the World Gold Council revealed that Egypt, Qatar and Jordan have bought large quantities of gold in recent months.
World Gold Council: Egypt, Qatar and Jordan have bought large quantities of gold in recent months
The March data issued by the World Gold Council showed that Qatar and Egypt increased their possession of gold by 1.2 and 0.5 tons, respectively, while Jordan announced this week the purchase of nearly half a ton, at a value of about 45 million dollars.
Jordan is the seller and the most active buyer in the gold trade in the region, where it purchases or sells reserves almost every month, according to the data.
In a related context, the global gold prices achieved a sudden and continuous increase over three days, to reach the morning of the World Stock Exchange index in an unexpected manner to the $ 3,000 barrier an ounce, contrary to the expectations resulting from the analysis of reports and recent events.
Analysts suggested that gold prices are continuing in light of reading the results of consumer reports issued on Wednesday from the previous one and the reports of American producers issued on Thursday, and it is expected that it will be stable monthly at 0.3 %, which has already reflected on the price movement during the past Wednesday, but it remains a record high with the annual reports of the inflation rate, and analysts are still waiting for the issuance of the upcoming unemployment reports index to resolve the indicators of the gold price.
