Gold prices remained steady across Iraq’s main markets, showing no major changes in Baghdad or Erbil. Traders reported that both wholesale and retail rates for gold held firm, reflecting stable demand and supply.
In Baghdad, merchants at the al-Nahr Street wholesale market offered 21-carat gold from Gulf, Turkish, and European sources at 819,000 dinars per mithqal for selling and 815,000 dinars for buying. These rates were unchanged from the previous day. Iraqi-origin 21-carat gold traded slightly lower, at 789,000 dinars for selling and 785,000 for buying.
Retail jewelry shops in Baghdad listed Gulf 21-carat gold between 820,000 and 830,000 dinars. Iraqi 21-carat gold ranged from 790,000 to 800,000 dinars. The steady rates indicate consistent market activity and no significant price fluctuations.
Erbil also reported stable gold prices. Local jewelers sold 22-carat gold at 880,000 dinars, 21-carat at 840,000 dinars, and 18-carat at 720,000 dinars. Traders attributed the stability to balanced demand and supply, as well as limited international market pressures affecting local prices.
Experts said that the market’s calm reflects cautious consumer behavior and a preference for maintaining current holdings. Analysts expect gold prices in Baghdad and Erbil to remain steady in the short term, unless external economic factors push global rates up or down.
Gold continues to attract investors and jewelry buyers in Iraq. Traders encourage buyers to follow market trends closely but note that current stability offers a predictable buying and selling environment. Both Baghdad and Erbil markets show no signs of sudden fluctuations, allowing consumers to plan purchases without concern over rapid price changes.