Bashar Alwaqfi, CEO of Alfardan Exchange: Gold has achieved gains of 50% since the beginning of 2025.

Bashar Al-Waqfi, CEO of Alfardan Exchange, to Al Raya Economic
Interview – Mahmoud Abdel Halim

When markets become unstable and people feel uncertain, gold stays strong. It is a safe investment that people trust. The gold bullion market is growing, with more people investing wisely and thinking long-term. They want safety more than quick profits. For many, gold remains a reliable way to protect their money.

In this special interview, Alraya spoke with Mr. Bashar Al-Waqfi, CEO of Alfardan Exchange, who shared his views on the gold market today. He talked about gold prices, investor behavior, supply issues, and how the company is helping investors with new services.

How do you see the gold bullion market recently?

Gold prices stayed strong over the past few months. Even when some investors sold to make profits, prices kept going up.

Since the start of the year, gold has increased by more than 50%. This is because of strong global demand and gold’s role as a safe place for investment.

In Qatar, demand rises when prices go up quickly. When prices stop moving, demand slows down a bit. Even with global supply problems, we made sure to have enough gold bars and coins by working with trusted global refineries. This helped us avoid shortages and keep supply flowing in the local market.

interest rate

Did interest rate changes affect gold prices?

Yes, gold usually rises when interest rates go down. That’s because other investments, like bonds, give lower returns — so gold becomes more attractive.

The recent decision to cut U.S. interest rates by 0.25% helped gold prices increase further in the global market.

investors behavior

Has investors behavior changed?

Yes, many more people are investing in gold bullion now. Prices have gone up more than 50% this year, so gold is seen as a safe and strong investment, especially during uncertain times.

Before, some people only invested in gold during certain times. Now, it’s becoming a regular and trusted investment for many people — no matter their background or income.

We also noticed that individual investors are becoming more careful and professional. They don’t panic when prices fall a little. Instead, they see it as a normal part of the market.

Types of Gold Bars
Which types of gold bars are most popular with customers?

By value, 1-kilogram bars are the most in demand, mainly bought by large investors who are looking at gold as a long-term investment. Smaller investors usually prefer bars like 100g, 50g, and 1-ounce because they’re easier to buy, sell, and trade when needed. In Qatar, 20g bars featuring the Kaaba design from the Royal Mint (UK) are especially popular. On top of that, 10g bars are also in strong demand since they’re more affordable while still offering solid investment value.

prices direction
What do you expect for gold prices in the near future?

Gold may continue its upward momentum in the coming period, supported by several factors that are strengthening demand and reinforcing its position in global markets. At the forefront is the decline in global interest rates, which lowers the opportunity cost of investing in gold and makes it more attractive as a safe haven during times of financial uncertainty. In addition, stronger investment demand during periods of economic volatility reflects growing confidence in gold as a tool for risk protection. Gold is no longer seen as a short-term investment, but rather as a core component of long-term financial strategies—giving it the resilience to withstand market pressures and potentially reach higher price levels in the period ahead.

Investment Advice

What advice would you give to investors looking to buy gold bars now?

I would advise investors to always buy from trusted sources and official dealers, and to focus on gold bars that carry well-known international brands. These are much more liquid and easier to sell globally, unlike lesser-known brands that may be harder to trade outside the local market. Investing in gold—whether in the short, medium, or long term—is very different from daily speculation. It’s important for investors to stay aware of price movements without getting caught up in every daily rise or dip, as short-term fluctuations can distract from the core investment strategy.

For small and mid-size investments, it’s also better to spread the amount across several bars rather than putting everything into one large piece. This approach offers greater flexibility if liquidity is needed, without forcing the investor to sell their entire holding at a time when prices may not be favorable, helping avoid unnecessary losses.

Key Services

We are always working to raise the level and quality of the services we offer, with the goal of making gold more accessible and closer to investors. In this context, we recently announced the launch of a new version of British gold bars produced by The Royal Mint, featuring the latest security markings. These advanced features provide the highest level of protection against counterfeiting, using cutting-edge global technology. In an innovative step to add more value to the investment experience, we also launched a partnership with Qatar Airways Privilege Club. This allows investors to earn Avios points when purchasing gold bars, bringing together investment and rewards in a truly unique way.

In addition, we offer a secure purchase and delivery service through the Alfardan Exchange app, ensuring a smooth and safe experience for investors at every stage of their investment journey. And this is just the beginning. We have future initiatives already in the pipeline that are expected to create a real shift in the gold bar investment market and help redefine service standards and innovation across this important sector.

Expected Demand

What are your expectations for demand for gold bars in 2026?

Demand for gold bars is expected to maintain its momentum through 2026, supported by a noticeable shift in investor behavior following the profits many achieved this year. These results have strengthened confidence in gold—not only as a safe investment, but also as a reliable store of value amid ongoing volatility in global markets. This continued activity is driven by several factors, most notably growing investor awareness of gold’s role in portfolio diversification and risk reduction, along with its long-standing position as a hedge against inflation and currency fluctuations.

In an investment world filled with volatility and differing opinions, some voices argue that gold’s rise is nothing more than a short-lived bubble.

But reality has proven otherwise. Gold has shown remarkable resilience, confirming its status as a unique investment asset with no true substitute. It has become the first choice for those seeking safety and value preservation. This ongoing strength is why many investors continue to favor gold—not only because it helps protect capital, but because it offers a sense of confidence and reassurance amid turbulence in global markets.

Investment Timing

When should you buy gold? And when should you sell?

Historical gold price data shows that buying is often a good decision at almost any time. Gold has maintained a long-term upward trend over decades, making price appreciation largely a matter of time. For example, gold was trading around $2,000 per ounce in 2020, while today it has climbed above the $4,300 level—clear evidence of its ability to grow in value over the medium and long term.

In general, buying at the early stages of an upward cycle allows investors to benefit from continued gains, while selling is usually limited to times of need or when choosing to take profits after prices reach specific target levels.

Safe Haven

Do you expect investors to continue investing in gold?

Amid market volatility and fluctuating financial confidence, gold once again proves itself as the safe haven people turn to. Investing in gold is no longer just an option—it has become a deeply rooted behavior across many segments of society, as it combines value preservation with stability in the face of market uncertainty. Every rise and fall in the markets only strengthens the appeal of the yellow metal, reaffirming its historical role as a symbol of financial security and investment resilience.

In the Consumer’s Best Interest

How do you see competition among companies in the local market?

Competition in the local market goes beyond rivalry between companies and serves as a positive force that works in favor of consumers. It compels businesses to continuously improve their offerings, enhance service quality, and adopt more innovative approaches, ultimately raising overall market standards. As competition intensifies, customers benefit from better choices, higher levels of service, and greater value.

In this dynamic environment, the consumer emerges as the true winner, with competition acting as a sustained driver of excellence, quality, and added value across the market.

Fee Differences

Why do gold prices differ between companies?

Gold bars from famous global brands cost a bit more, but for good reason — they come with high trust, global liquidity, and top quality.

These bars are easy to sell anywhere in the world. That’s why many investors are willing to pay more for them.

British Gold Bars

Commenting on the launch of Alfardan Exchange’s British Gold Bars collection, Al-Waqfi said that their gold bars have evolved beyond being just a precious metal to become a symbol of trust and global distinction. As part of the company’s ongoing commitment to offering best-in-class products, the British Gold Bars collection was launched in collaboration with The Royal Mint, under the patronage of the British Embassy in Doha.

These bars are equipped with the latest optical security technologies available worldwide, making counterfeiting virtually impossible. This provides investors with complete peace of mind and absolute confidence in their authenticity and quality—turning ownership into an investment that combines security, high value, and prestige within the world of gold.