Gold prices in Iraq rose slightly in Baghdad and Erbil, showing fresh activity in the local precious metals market. Traders noticed a small jump in both buying and selling prices across several gold varieties. This change suggests increased interest from consumers and investors alike.
In Baghdad’s Al-Nahr Street, 21-carat gold sold for 642,000 IQD per mithqal, which equals five grams. This price included Gulf, Turkish, and European types. Buyers paid 638,000 IQD per mithqal for the same gold variety. This price movement marked a slight but clear upward trend.
At the same time, 21-carat Iraqi gold showed lower prices compared to imported varieties. It sold for 612,000 IQD and was bought at 608,000 IQD. This reflects the lower production costs of local gold but also suggests stable demand.
Meanwhile, jewelry stores in Baghdad displayed varied prices. They offered Gulf gold for 645,000 to 655,000 IQD per mithqal. Iraqi gold was priced between 615,000 and 620,000 IQD. These ranges often depend on location, craftsmanship, and buyer preferences.
Gold prices in Iraq also moved in Erbil markets. There, 24-carat gold reached 748,000 IQD per mithqal. Likewise, 22-carat gold stood at 686,000 IQD, while 21-carat gold hit 655,000 IQD. Lastly, 18-carat gold traded at 560,000 IQD per mithqal.
Although these increases remain modest, they point to rising interest in physical gold. Many Iraqis use gold as a safe investment during uncertain economic times. In addition, wedding seasons and festive occasions often push demand higher.
Moreover, shop owners in both cities expect further changes if global gold prices rise. International markets heavily influence gold prices in Iraq, especially for imported types. So, global economic news can quickly affect local pricing trends.
Traders believe that consistent demand will keep gold prices in Iraq stable in the short term. However, sudden spikes in global prices or currency fluctuations could bring sharper changes.
Overall, the current increase in gold prices in Iraq reflects both domestic buying trends and international factors. For now, buyers and sellers continue to monitor the market closely.