Gold prices rise in Baghdad and Erbil markets, signaling growing interest in precious metals. The phrase gold prices riseappeared multiple times during market updates this week, showing clear momentum across cities.
In Baghdad, especially on Al-Nahr Street, the selling price of 21-carat gold reached 660,000 IQD per mithqal. This rate includes gold from Gulf, Turkish, and European sources. Buyers paid 656,000 IQD to purchase the same carat, showing a narrow margin that suggests steady demand.
Meanwhile, 21-carat Iraqi gold traded at slightly lower prices. The selling price stood at 630,000 IQD, and buyers secured it for 626,000 IQD. Iraqi gold continues to attract domestic buyers due to its affordability and local familiarity.
Jewelry stores across Baghdad reflected these gains. Gulf gold of 21 carats sold for 660,000 to 670,000 IQD per mithqal. Iraqi gold in stores ranged between 630,000 and 640,000 IQD. These variations show how retailers respond to subtle changes in demand and supply.
Turning to Erbil, the gold market showed equally strong movement. The price for 22-carat gold hit 707,000 IQD per mithqal, marking one of the highest prices in the region. For 21-carat gold, sellers charged 675,000 IQD, while 18-carat gold stood at 578,000 IQD. These prices confirm that gold prices rise not just in Baghdad but across major Iraqi markets.
Retailers and traders attribute this upward trend to multiple factors. Global gold demand remains high, pushing local prices upward. Currency fluctuations and regional economic uncertainties are also making gold a safer investment option for Iraqis.
As traders closely watch these price movements, many buyers are turning toward Iraqi gold. Its slightly lower price makes it more accessible, especially for wedding season and savings. Meanwhile, imported gold maintains its premium appeal, especially among collectors and high-end shoppers.
In summary, as gold prices rise across Iraq, both Baghdad and Erbil markets remain active and attractive to buyers. This growth reflects confidence in gold as a stable and valued asset.