Iraq gold prices displayed mixed movements in major cities, signaling regional shifts in consumer demand and supply. While prices in Baghdad climbed slightly, Erbil markets showed a slight decline.
In Baghdad’s wholesale market on Al-Nahr Street, 21-carat Gulf, Turkish, and European gold sold at 627,000 IQD per mithqal. Buyers paid slightly less, around 623,000 IQD per mithqal. Meanwhile, Iraqi 21-carat gold sold at 598,000 IQD and bought at 593,000 IQD.
Moreover, jewelry stores across Baghdad reflected similar price variations. Gulf gold prices ranged from 625,000 to 635,000 IQD per mithqal. Iraqi gold of the same purity varied between 595,000 and 605,000 IQD.
These changes in Iraq gold prices suggest a local increase in demand. Shoppers may be turning to gold for savings or investment, pushing prices upward in Baghdad. Additionally, fluctuations in international markets often influence domestic trends.
Conversely, gold prices in Erbil moved in the opposite direction. There, 24-carat gold traded at 716,000 IQD per mithqal. Meanwhile, 21-carat gold was priced at 627,000 IQD, and 18-carat sold for 537,000 IQD. Despite global price pressures, Erbil’s gold rates remained steady or slightly lower.
This divergence between cities highlights regional buying patterns and supply chain dynamics. Traders in Erbil might be holding off on purchases, expecting further drops. In contrast, Baghdad buyers seem more active in the current market.
Besides, the difference in price points between foreign and Iraqi gold adds complexity to the market. Gulf, Turkish, and European gold often attract higher prices due to reputation and purity. However, Iraqi-made gold remains a competitive alternative.
Retailers continue to adjust pricing based on customer demand, purity, and brand origin. Iraq gold prices reflect not only material value but also buyer preferences and seasonal shifts.
Furthermore, economic factors like inflation and currency exchange rates contribute to these price movements. Investors watch these shifts closely to decide the best time to buy or sell.
Overall, the variation in Iraq gold prices offers insights into regional consumer behavior. As economic conditions evolve, these prices may continue to fluctuate, especially in large cities like Baghdad and Erbil.