Dubai-based precious metals specialist scales operations as gold surges past $4,500 per ounce

As gold prices reach historic highs above $4,500 per ounce, Icon Gold has announced expanded operations across the Middle East, Africa, and South American gold-producing regions to meet surging global demand.

Gold has climbed nearly 70% over the past year, marking its strongest annual performance since 1979. Major banks including JP Morgan and HSBC forecast prices could reach $5,000 per ounce by late 2026, driven by central bank purchasing and investor demand for safe-haven assets.

“The current gold market presents unprecedented opportunities for producers and buyers alike,” said Marcus Briggs, who operates Icon Investments under the Icon Group umbrella. “We are scaling our operations to ensure we can serve the growing number of sellers and buyers entering the market.”

Icon Gold, headquartered in Dubai and Kampala, provides end-to-end services spanning the precious metals value chain. The company operates from offices in Dubai and Ras Al Khaimah within the UAE, registered and regulated by DMCC Dubai Customs Centre in the Airport Free Zone. Its African headquarters in Kampala holds a Mineral Dealers License, enabling the company to test, purchase, and export precious metals throughout Africa.

The expansion strengthens Icon Gold’s presence across key African gold-producing nations including Uganda, Tanzania, and Ghana. These three countries represent some of the continent’s most significant sources of precious metals, and record prices have intensified demand for reliable export channels.

Marcus Briggs noted that African gold producers in particular are seeking established routes to capitalise on record prices. “Dubai’s position as a global gold hub makes it the natural gateway between African producers and international markets,” he said. “Our infrastructure allows us to move quickly when market conditions demand it.”

Briggs added, “With gold forecast to reach $5,000 per ounce by late 2026, the timing is right to expand our African operations.”