Gold prices in Iraq declined slightly at the start of the week. The change affected both Baghdad and Erbil, where daily market movements often reflect local demand and global trends. Traders and buyers noted shifts in the cost of multiple types of gold, including Iraqi, Gulf, Turkish, and European varieties.
On Baghdad’s well-known Al-Nahr Street, the price of 21-carat gold reached 690,000 Iraqi dinars per mithqal. Each mithqal equals five grams. Buyers, however, offered 686,000 dinars for the same quantity. These rates applied to imported gold, such as Gulf, Turkish, and European types.
Meanwhile, locally produced 21-carat Iraqi gold recorded slightly lower rates. It sold at 660,000 dinars per mithqal, while the buying rate reached 656,000 dinars. These figures show a modest decrease compared to previous trading days.
In retail jewelry stores across Baghdad, prices varied based on type and vendor. The selling price of 21-carat Gulf gold ranged between 690,000 and 700,000 dinars. Iraqi-made gold saw selling prices between 660,000 and 670,000 dinars. This range highlights the flexibility of gold pricing depending on origin and craftsmanship.
In Erbil, similar trends followed. The price of 22-carat gold reached 725,000 dinars per mithqal. For 21-carat gold, prices stood at 692,000 dinars. Meanwhile, 18-carat gold sold for 593,000 dinars. Erbil’s jewelry markets typically offer slightly different rates due to regional market dynamics.
The Iraq gold prices shift reflects broader market trends and local trading behavior. Fluctuations often depend on regional stability, international gold rates, and consumer activity. With wedding season approaching, demand might increase and influence prices further.
Jewelry store owners expect more changes in the coming weeks. While global gold prices play a major role, domestic buying power and seasonal trends also shape pricing in Iraq.
Government measures to support local gold production continue. Officials hope to boost domestic output, reduce reliance on imports, and maintain steady price levels. At the same time, traders adjust prices daily to reflect current market supply and demand.
The Iraq gold prices movement offers insight into broader economic activity. Gold remains a popular asset for savings, investment, and gifting across Iraqi society. Any shift, even small, draws attention from families, investors, and business owners.