Gold prices jumped in Baghdad and Erbil markets, reflecting increased demand and market activity. Gold prices on Baghdad’s Al-Nahr Street recorded a selling price of 893,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, which included Gulf, Turkish, and European varieties. The buying price stood at 789,000 IQD.
For 21-carat Iraqi gold, the selling price was 763,000 IQD, with a buying price of 759,000 IQD. Jewelry stores in Baghdad reported that 21-carat Gulf gold sold between 795,000 and 805,000 IQD per mithqal, while Iraqi gold ranged from 765,000 to 775,000 IQD.
In Erbil, gold prices also saw notable gains. 22-carat gold sold at 838,000 IQD per mithqal, 21-carat gold at 800,000 IQD, and 18-carat gold at 685,000 IQD. Market analysts attributed that the gold prices jumped to increased buying interest among investors and traders seeking to hedge against currency fluctuations.
Gold continues to play an important role in Iraq’s economy and personal wealth management. Many buyers prefer higher-carat varieties for long-term investment, while lower-carat gold is commonly used in jewelry and retail markets. The price trends in Baghdad and Erbil often reflect both local demand and fluctuations in global gold markets.
Traders said that supply levels, regional demand, and international gold prices are key factors influencing current rates. Despite minor day-to-day volatility, gold in Iraq has maintained strong demand. Jewelry shops and exchange offices continue to adjust their rates to align with market movements.
Analysts expect gold prices to remain sensitive to economic indicators, currency shifts, and international market trends. Investors and local buyers are advised to monitor prices closely to make informed decisions.