Gold prices remained stable in Baghdad but increased in Erbil, according to a recent survey. The Baghdad market showed minimal fluctuations, while Erbil experienced a noticeable rise across multiple gold categories.
On Baghdad’s Al-Nahr Street, 21-carat gold—including Gulf, Turkish, and European varieties—recorded a selling price of 816,000 IQD per mithqal (equivalent to five grams). The buying price was 812,000 IQD. Meanwhile, 21-carat Iraqi gold sold for 786,000 IQD per mithqal, with a buying rate of 782,000 IQD. Jewelry stores reported that the selling price of 21-carat Gulf gold ranged between 815,000 and 825,000 IQD. Iraqi gold sold between 785,000 and 795,000 IQD.
In Erbil, gold prices rose across all main categories. The selling price for 22-carat gold reached 890,000 IQD per mithqal. Twenty-one-carat gold sold for 850,000 IQD, while 18-carat gold reached 728,000 IQD per mithqal. Traders in Erbil attributed the increase to higher local demand and fluctuations in international gold markets.
Market analysts noted that Baghdad’s stability reflects balanced supply and demand. Local jewelry shops maintained steady prices despite minor global price shifts. “Baghdad’s gold market is adjusting gradually,” an exchange operator said.
Erbil, on the other hand, showed stronger momentum. Investors and buyers sought higher-carat gold, boosting prices. Analysts explained that Erbil’s market reacts more quickly to international trends, particularly for 22- and 21-carat gold.
Overall, gold buyers in Baghdad can expect stable rates, while those in Erbil may encounter rising prices. Traders continue to monitor global gold movements closely, as these often influence local markets. For residents and investors, understanding regional differences is essential for informed purchasing decisions.
The contrast between Baghdad and Erbil highlights Iraq’s diverse gold market. Baghdad remains stable, supporting predictable trade. Erbil’s rising prices reflect active demand and international influences. Both markets provide insights into the country’s gold trading dynamics.