gold price movement in Iraq, Gold prices saw a small increase in Baghdad on Tuesday, while they held steady in the Erbil market. This trend shows a shifting balance in Iraq’s jewelry trade. The gold price movement in Iraq has become a key indicator for traders and consumers across the country.
In Baghdad, 21-carat gold sold for 669,000 Iraqi dinars per mithqal. A mithqal equals five grams. This rate covered Gulf, Turkish, and European varieties. Meanwhile, the buying price stood at 665,000 dinars.
Additionally, the 21-carat Iraqi gold sold at 639,000 dinars per mithqal. The buying rate for that category reached 635,000 dinars. These numbers suggest a slight demand shift, as local products remain slightly cheaper than imported ones.
Jewelry stores on Al-Nahr Street reported various prices. For example, Gulf 21-carat gold ranged between 670,000 and 680,000 dinars. In contrast, Iraqi gold ranged between 640,000 and 650,000 dinars per mithqal. This spread reflects consumer choices between locally made and imported items.
In Erbil, the market held steady with no major changes. Shops sold 24-carat gold at 765,000 dinars per mithqal. At the same time, 22-carat gold was priced at 700,000 dinars. The 21-carat gold variety stood at 670,000 dinars, while 18-carat gold remained at 575,000 dinars.
Therefore, while Baghdad experienced a slight upward push, Erbil maintained stability. This contrast highlights how the gold price movement in Iraq can vary by region. Factors such as local demand, type of gold, and economic sentiment influence these trends.
Moreover, regional and international factors continue to shape Iraq’s gold trade. Fluctuations in the global market, along with currency shifts, impact local pricing. Traders are watching these developments closely as they adjust their pricing strategies.
Furthermore, consumer behavior plays a role. Iraqi customers often prefer 21-carat gold for its balance between quality and price. Imported gold, especially from Gulf nations, remains popular despite higher prices.
Looking ahead, gold prices may continue to shift in both Baghdad and Erbil. Economic conditions, consumer habits, and supply factors will all shape the market. The gold price movement in Iraq remains a crucial topic for buyers, sellers, and investors.