Khaberni - Egyptian businessman Naguib Sawiris predicts that global gold prices will reach an unprecedented level of $6,000 per ounce before the end of this year.
In an interview with the TV program "Billionaire's Journey" on Al-Nahar channel, Sawiris clarified that he does not claim to have absolute predictive power but reads the scene through economic indicators, saying, "I am not the predictor, and no one should say 'you said and it didn’t happen', but there are 5 or 6 factors I read the scene through."
Speaking about his investments, he affirmed that he feels no regret towards the Centamin company deal, explaining that his philosophy is based on the belief that any incomplete deal is simply "good that God did not want," and therefore he does not grieve over it.
Sawiris revealed that about 70% of his investment portfolio is concentrated in gold, while the rest is spread across diverse activities, most notably real estate, pointing out that he prefers this sector because it leaves a tangible impact that people see and benefit from, unlike working in mines, which he described as difficult and laborious.
He added that the experience of working in mines requires going deep underground and staying in remote areas for several days in harsh living conditions, while investing in real estate gives him a sense of satisfaction seeing what has been built and the happiness of the people with it.
About the milestones of his life, he said that he made $250,000 when he was a young man at 25, but he considered that "money isn't everything," but in the end, it's "power," confirming that his ranking on the rich list is not a measure and that money is not success, pointing out that his family was raised on "contentment" and he leads his life normally.
