On Sunday, the gold market in Iraq remained stable, with prices unchanged in both Baghdad and Erbil. This continued consistency follows recent minor fluctuations and gives much-needed confidence to buyers, sellers, and investors.
In Baghdad’s wholesale markets, especially on Al-Nahr Street, the selling price for one mithqal (about five grams) of 21-carat Gulf, Turkish, and European gold was 663,000 IQD. Meanwhile, the buying price stood at 659,000 IQD. For 21-carat Iraqi gold, the selling price reached 629,000 IQD, and the buying price was 625,000 IQD. These steady prices reflect balanced market conditions, confirming that the gold market in Iraq remains predictable and resilient.
Retail jewelry stores in Baghdad showed slight price differences. The selling price for 21-carat Gulf gold ranged from 665,000 to 675,000 IQD per mithqal. On the other hand, Iraqi 21-carat gold sold for 630,000 to 640,000 IQD. These minor changes are common and usually depend on location, craftsmanship, and business costs.
In Erbil, gold prices were similarly stable. The selling price for 21-carat gold was 675,000 IQD per mithqal, while 18-carat gold sold at 575,000 IQD. This consistency across major cities shows strong alignment in the gold market in Iraq, helping traders and customers plan better.
Additionally, the steady trend in gold prices supports confidence in the broader economy. When precious metal markets behave predictably, it reflects underlying financial stability. Moreover, steady prices allow local businesses to avoid sudden cost shocks and assist consumers in making informed buying decisions.
As gold is often seen as a safe-haven asset, consistent pricing signals that investors have confidence in the current economic climate. The gold market in Iraq not only benefits the jewelry industry but also serves as an indicator of financial trust.
Overall, Iraq’s steady gold prices ensure continued economic reassurance. Predictable rates benefit everyday shoppers and long-term investors alike, strengthening the reliability of the country’s financial outlook.