Gold prices in Iraq continued to rise this week, with markets in Baghdad and Erbil recording notable increases. A recent survey by Shafaq News Agency revealed that trading remained active across both cities, reflecting growing interest from local buyers and rising investor confidence in gold as a safe-haven asset.
In Baghdad, Al-Nahr Street gold markets reported a selling price of 741,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties. The buying price was 733,000 IQD per mithqal. Meanwhile, 21-carat Iraqi gold traded at 711,000 IQD for sellers and 707,000 IQD for buyers. Jewelry stores listed 21-carat Gulf gold between 740,000 and 750,000 IQD, while Iraqi one ranged from 710,000 to 720,000 IQD per mithqal. Traders noted that strong demand and limited supply contributed to the steady rise in prices over the past week.
In Erbil, 22-carat gold sold for 788,000 IQD per mithqal, 21-carat gold reached 753,000 IQD, and 18-carat gold was priced at 645,000 IQD. Jewelers emphasized that both domestic and imported gold varieties continue to attract buyers, helping sustain the upward price momentum and reflecting growing investor confidence in Iraq’s gold market.
Market analysts pointed out that local demand, active trading, and global economic trends are driving the recent increases. Fluctuations in the U.S. dollar against the Iraqi dinar also influenced gold pricing, as traders and investors adjusted their rates in response to currency movements.
As a conclusion, gold prices remains a preferred investment in Iraq, particularly for hedging against inflation and protecting wealth amid currency volatility. Experts predict that demand will remain strong in the coming weeks, with market confidence and economic conditions likely to support ongoing price growth. The consistent interest in gold underscores its role as both an investment and a cultural asset in Iraq’s financial landscape.