The Iraq gold price increase continued on Saturday as rates rose in both Baghdad and Erbil. Buyers saw higher costs across different types and qualities of gold in key wholesale and retail markets.
In Baghdad, the Al-Nahr Street wholesale market recorded a selling price of 681,000 IQD per mithqal for 21-carat Gulf, Turkish, and European gold. The buying rate stood at 677,000 IQD. Iraqi-made 21-carat gold sold at 651,000 IQD, with a buying price of 647,000 IQD.
Jewelry stores across Baghdad reflected similar trends. The 21-carat Gulf gold ranged between 680,000 and 690,000 IQD per mithqal. Meanwhile, Iraqi 21-carat gold traded between 650,000 and 660,000 IQD in the same stores.
In Erbil, prices followed a comparable pattern. The 21-carat gold sold for 675,000 IQD per mithqal. Meanwhile, 18-carat gold was priced at 578,000 IQD per mithqal.
This Iraq gold price increase reflects global market pressures and local currency fluctuations. As demand remains steady and the Iraqi dinar weakens slightly against the US dollar, gold prices continue their upward momentum.
Gold traders suggest that buying activity rises during times of economic uncertainty. Many Iraqis turn to gold as a stable investment during periods of inflation or currency pressure.
Experts note that prices may keep rising if the dinar drops further or global gold values go up. The regional conflict and changing oil prices could also affect market behavior in Iraq.
The Iraq gold price increase provides insight into consumer behavior in both Baghdad and Erbil. While jewelry remains a cultural tradition, gold also acts as a financial shield for many families.
Retailers expect active trading to continue in the coming days, especially if political or economic conditions remain uncertain.