Gold prices dipped slightly on Tuesday in both Baghdad and Erbil as market activity slowed. Jewelers and traders noted modest price declines across multiple carat grades. The shift reflects the broader market sentiment that gold prices fall in Iraq as demand fluctuates.
In Baghdad, gold prices recorded lower levels compared to recent days. On Al-Nahr Street, 21-carat gold, including Gulf, Turkish, and European types, sold at 664,000 Iraqi dinars per mithqal. Buyers could purchase the same gold at 660,000 dinars per mithqal. A mithqal equals approximately five grams.
Prices for locally made Iraqi 21-carat gold dropped slightly as well. The selling price settled at 634,000 dinars per mithqal, while the buying rate reached 630,000. Traders noted reduced demand as the main reason for the price shift.
Jewelry stores across the capital posted slightly varied figures. The selling price of 21-carat Gulf gold ranged between 665,000 and 675,000 dinars. In contrast, 21-carat Iraqi gold sold for between 635,000 and 645,000 dinars. These differences often reflect craftsmanship, origin, and seller margins.
Meanwhile, in Erbil, gold prices showed a similar downward trend. The 24-carat gold sold for 753,000 dinars per mithqal. For 22-carat, the price was 690,000 dinars. The popular 21-carat gold sold for 660,000 dinars, and 18-carat gold was priced at 565,000 dinars. These prices indicate that gold prices fall in Iraq across different regions and purity levels.
Market experts believe the price drop is linked to recent declines in international gold prices. In addition, a slight recovery in the Iraqi dinar’s exchange rate may have impacted gold demand. Buyers often shift between currencies and commodities depending on market conditions.
Jewelers say customer traffic remains moderate, with most buyers delaying major purchases. They expect activity to pick up later in the month, especially if prices stabilize further.
With gold prices fall in Iraq dominating recent trends, investors and gold dealers continue to monitor fluctuations closely. Many are waiting to see if international markets will support a rebound or lead to further local price drops.