Gold prices in Iraq edged lower this week, with both Baghdad and Erbil markets showing minor declines. Analysts said the change reflects normal market fluctuations influenced by local demand and global trends.
Additionally, Baghdad’s Al-Nahr Street recorded a selling price of 805,000 IQD per mithqal (five grams) for 21-carat gold, including popular Gulf, Turkish, and European varieties. The buying price stood at 801,000 IQD.
Therefore, for 21-carat Iraqi gold, the selling price was 775,000 IQD, while the buying price reached 771,000 IQD. Jewelry stores in Baghdad listed Gulf 21-carat gold between 805,000 and 815,000 IQD per mithqal, while Iraqi 21-carat gold ranged from 775,000 to 785,000 IQD. Traders noted that the slight decrease reflects routine adjustments rather than a major market shift.
Furthermore, in Erbil, 22-carat gold sold at 865,000 IQD per mithqal, 21-carat gold at 825,000 IQD, and 18-carat gold at 707,000 IQD. Local dealers said the minor drop in prices in Erbil closely mirrors Baghdad’s market trends and reflects small shifts in demand.
Additionally, it continues to be a preferred investment for many Iraqis. Citizens and retailers closely monitor both the Baghdad market and Erbil rates to plan purchases and investments effectively. Experts said these slight declines in the prices in Iraq do not indicate a long-term trend but rather short-term market sensitivity.
Furthermore, financial analysts predict that its prices in Iraq will likely remain stable in the coming weeks unless global gold values. Investors are encouraged to track market movements carefully to make informed decisions.
The recent adjustments underline the importance of monitoring both Baghdad and Erbil markets for this week, especially for traders, jewelers, and investors seeking guidance on its prices in Iraq. By keeping track of these changes, market participants can optimize their buying and selling strategies and respond quickly to any sudden market shifts.