London – Saba:
The World Gold Council (WGC) predicted on Sunday that gold prices will continue to rise in the second half of 2025, albeit at a slightly slower pace.
The Council noted that global consumption by jewelry manufacturers declined from 435 tons in the first quarter to 356 tons in the second quarter, according to the Omani News Agency.
Gold prices have risen to slightly over $3,300 per ounce (31.1 grams), nearly double their 2022 levels, while Goldman Sachs forecasts they could reach $4,000 by mid-2026.
Analysts pointed out that sustained purchases by central banks are the primary driver behind this surge, as countries seek to reduce their reliance on the U.S. dollar.
Figures from the World Gold Council show that China has nearly sextupled its gold reserves since 2000, increasing from 395 tons to 2,292 tons by the end of the first quarter of 2025, placing it seventh globally.
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