Gold prices in Baghdad and Erbil have dropped, creating ripple effects for traders, investors, and buyers across the Kurdistan Region. Market experts say fluctuations result from changing demand, international rates, and local economic conditions.
In Baghdad, 21-carat gold sold for 736,000 IQD per mithqal, with a buying price of 732,000 IQD. Meanwhile, 21-carat Iraqi gold reached 706,000 IQD for sellers and 702,000 IQD for buyers. Jewelry stores reported 21-carat Gulf gold prices ranging between 740,000 and 750,000 IQD, while Iraqi gold varied from 710,000 to 720,000 IQD per mithqal.
Erbil experienced a similar trend. Twenty-two-carat gold reached 772,000 IQD per mithqal, 21-carat traded at 737,000 IQD, and 18-carat sold for 632,000 IQD. Traders explained the decline as a combination of global gold price shifts and a stronger local currency exchange.
Experts note that gold prices respond both to international market trends and local demand. Buyers in Baghdad and Erbil are adjusting their purchasing patterns daily, which adds to frequent price variations. Analysts say that metropolitan areas often see faster shifts in gold prices due to active international trading connections.
Market officials advise buyers to monitor trends carefully, as fluctuations may continue throughout the week. Jewelers recommend postponing major purchases until rates stabilize to minimize potential losses. Traders also emphasize that gold prices influence investment choices, savings strategies, and consumer spending throughout the Kurdistan Region.
Despite the decline, gold remains a highly preferred investment, especially for those seeking protection against inflation. Buyers still favor 21-carat and 22-carat gold because these types balance purity, durability, and resale value. Many families continue to buy gold as a long-term store of value while keeping a close eye on market changes.