Gold prices edged higher in Baghdad while remaining stable in Erbil, reflecting steady demand and consistent market activity across Iraq. Analysts explained that local buying patterns, import activity, and short-term global market fluctuations drove Baghdad’s price increase, while controlled supply kept Erbil’s market stable.
Additionally, gold prices edged higher on Baghdad’s Al-Nahr Street recorded a selling price of 795,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties. The buying price for this gold was 791,000 IQD. Meanwhile, 21-carat Iraqi gold sold at 765,000 IQD per mithqal, with a buying price of 761,000 IQD.
Therefore, in jewelry stores across Baghdad, 21-carat Gulf gold ranged from 795,000 to 805,000 IQD per mithqal, while Iraqi gold sold for 765,000–775,000 IQD. Traders explained that the slight increase in Baghdad reflects higher demand from consumers and investors seeking a secure store of value amid broader economic uncertainty.
Moreover, in Erbil, 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. Dealers in Erbil reported minimal price fluctuations, citing steady supply levels and consistent consumer demand. Analysts attributed the price difference between Baghdad and Erbil to regional supply chain variations, dealer margins, and local purchasing patterns.
Moreover, gold continues to serve as a preferred investment and safe-haven asset for Iraqi households and traders. Market participants closely monitor local and international developments to guide buying and selling decisions. The combination of rising demand in Baghdad and stable pricing in Erbil indicates an overall healthy gold market with room for short-term movement, without significant volatility.
Experts advise investors to monitor trends closely, as global gold prices fluctuate with geopolitical events and currency exchange shifts. Baghdad’s slight price increase signals growing local demand, while Erbil’s steady prices suggest a well-regulated regional market.