Iraq’s gold market price trends reflected regional variation. Baghdad witnessing a modest decline in prices, while Erbil maintained stable rates. These updates come amid broader fluctuations in global gold prices and shifting domestic market demand.
According to a field survey by Shafaq News. The selling price of 21-carat gold in Baghdad’s Al-Nahr Street reached 657,000 IQD per mithqal (equivalent to five grams). A buying price of 653,000 IQD. These figures applied to Gulf, Turkish, and European varieties, all popular in the local market due to their quality and design appeal.
Meanwhile, Iraqi-made 21-carat gold sold for 627,000 IQD, while the buying price stood at 623,000 IQD. Iraqi gold remains a preferred choice for many consumers due to its traditional craftsmanship and slightly lower prices compared to imported varieties.
In Baghdad’s jewelry stores, prices varied slightly. The selling price for 21-carat Gulf gold ranged between 660,000 and 670,000 IQD per mithqal. While 21-carat Iraqi gold traded between 630,000 and 640,000 IQD. These differences often reflect brand markups, design complexity, and store reputation.
In Erbil, the capital of the Kurdistan Region, the gold market showed more stability. The price of 21-carat gold held firm at 658,000 IQD per mithqal, while 18-carat gold was offered at 564,000 IQD. Retailers in Erbil reported steady demand with no significant fluctuations in recent days.
Gold traders in Baghdad linked the price drop to a mild decline in global gold rates. Combined with reduced weekend demand. Additionally, continued fluctuations in the Iraqi dinar’s exchange rate against the U.S. dollar play a role in shaping daily pricing trends.
Despite the small dip, consumer interest in gold remains high. Many Iraqis view gold not only as a luxury good but also as a safe haven investment, especially during periods of inflation or currency instability.
As Iraq’s gold market price trends shift between regions, buyers continue to monitor the market closely, looking for ideal entry points.