Gold prices drop in Baghdad and Erbil as market trends shift. Jewelry traders report changes across both Gulf and Iraqi gold varieties. The gold market sees fluctuations as buyers and sellers adjust to new rates.
In Baghdad, the selling price for 21-carat gold reached 668,000 IQD per mithqal, equal to five grams. This rate covered Gulf, Turkish, and European styles. The buying price stood at 664,000 IQD. Meanwhile, 21-carat Iraqi gold sold for 638,000 IQD and bought at 634,000 IQD.
Across Baghdad’s jewelry stores, 21-carat Gulf gold prices ranged between 670,000 and 680,000 IQD. At the same time, 21-carat Iraqi gold sold between 640,000 and 650,000 IQD. This price gap showed different demand levels for imported and local gold. The Iraq gold prices drop affected both categories.
In Erbil, the gold market also experienced a noticeable shift. The selling price for 22-carat gold reached 695,000 IQD per mithqal. For 21-carat gold, prices stood at 663,000 IQD. Meanwhile, 18-carat gold sold for 568,000 IQD. These figures revealed varying demand for different purities in the region.
Traders in both cities explained that fluctuations in global gold rates often influence local markets. Many buyers closely watch the changes before making purchases. The Iraq gold prices drop may encourage some to invest, while others wait for more decreases.
In recent days, market trends have reflected changes in international gold prices. Gulf gold often holds a higher price due to its demand and craftsmanship. Iraqi gold maintains a strong presence thanks to its familiarity and cultural value.
Jewelry store owners mentioned that sales sometimes slow during periods of price changes. Customers prefer stable rates before committing to large purchases. However, some investors see lower prices as an opportunity. The Iraq gold prices drop could lead to a short-term increase in buying activity.
Overall, the price difference between Gulf and Iraqi gold remains steady despite daily fluctuations. Many customers make their choices based on purity, price, and tradition. With the market adjusting, both Baghdad and Erbil expect more movement in gold trading soon.