Gold prices rose sharply in Baghdad and Erbil markets, reflecting increased demand and regional market trends. Shafaq News Agency reported significant gains across various types of gold, including domestic and Gulf varieties.
On Baghdad’s Al-Nahr Street, the selling price for 21-carat gold—covering Gulf, Turkish, and European varieties—reached 794,000 IQD per mithqal (five grams), while buyers paid 790,000 IQD. Meanwhile, 21-carat Iraqi gold sold for 764,000 IQD, with a buying price of 760,000 IQD per mithqal.
Jewelry stores offered slight variations. The selling price for 21-carat Gulf gold ranged between 795,000 and 805,000 IQD, whereas 21-carat Iraqi gold sold between 765,000 and 775,000 IQD. Experts said the differences reflect supply availability, import costs, and regional pricing trends.
In Erbil, gold prices also rose sharply across multiple carats. 22-carat gold sold for 843,000 IQD per mithqal, 21-carat goldreached 805,000 IQD, and 18-carat gold sold for 690,000 IQD. Market analysts highlighted that Erbil’s price movement mirrors the broader Iraqi market and regional demand.
Traders attributed the increase to several factors, including higher demand for gold as a hedge against currency fluctuations and rising inflation concerns. Investors often purchase gold to preserve wealth, particularly when the Iraqi dinar shows volatility against global currencies.
Market participants noted that the price jump is consistent with regional trends, as Gulf and European gold prices also experienced gains this week. The increase underscores the importance of monitoring gold prices for investors, jewelers, and households engaged in trading or saving gold.
Despite the rise, analysts expect daily fluctuations to continue, influenced by global gold prices, domestic demand, and market liquidity. Shafaq News Agency emphasized that buyers should track price movements carefully to make informed purchasing decisions.