Baghdad – Gold prices rose in Iraq, continuing an upward trend in Baghdad and Erbil markets. Traders reported that gold reached around 1.06 million IQD per mithqal. This increase affects buyers, jewelers, and investors.
In Baghdad, Al-Nahr Street recorded a selling price of 1,073,000 IQD per mithqal for 21-carat gold, including Gulf, Turkish, and European varieties. The buying price stood at 1,069,000 IQD. On the previous day, the same gold sold for 1,035,000 IQD. The gold prices rise sharply highlights strong demand in local markets.
The selling price for 21-carat Iraqi gold in Baghdad reached 1,043,000 IQD, with a buying price of 1,039,000 IQD. Jewelry stores reported selling 21-carat Gulf gold between 1,075,000 and 1,085,000 IQD per mithqal. Meanwhile, Iraqi gold sold between 1,045,000 and 1,055,000 IQD. Consequently, both investors and consumers are adjusting their buying strategies.
In Erbil, 22-carat gold sold at 1,163,000 IQD per mithqal, 21-carat gold at 1,110,000 IQD, and 18-carat gold at 952,000 IQD. The gold prices rise in Erbil matches the trend seen in Baghdad. Traders noted that demand for higher-carat gold remains strong among investors and buyers preparing for upcoming events.
Experts said the gold prices rise reflects both global and local factors. Rising international gold rates and local market demand drive the increase. Furthermore, political and economic uncertainty encourages citizens to invest in gold as a safe option.
Analysts predict that the gold prices rise could continue in the coming days. They warn that prices may fluctuate slightly depending on supply, demand, and international market changes. Jewelers recommend that buyers follow market trends closely before purchasing.
The increase in gold prices also affects small and large businesses. Jewelers and traders must adjust their buying and selling rates to match the market. Citizens in Baghdad and Erbil often monitor daily updates to decide the best time to buy or sell gold.
The gold prices rise trend highlights the importance of gold as a financial asset in Iraq. Residents see gold as a secure investment during economic uncertainty. Traders and investors continue to watch market changes daily to make informed decisions.