Gold prices drop in Iraq markets as Baghdad and Erbil record fresh declines. This shift reflects changing regional demand and ongoing adjustments by traders. Iraq gold prices drop is now a noticeable trend affecting buyers, sellers, and investors across the country.
Additionally, in Baghdad, gold dealers on Al-Nahr Street updated their rates early this week. The selling price for 21-carat imported gold reached 651,000 IQD per mithqal. The buying price was slightly lower at 647,000 IQD. These imported varieties include Gulf, Turkish, and European styles. Meanwhile, 21-carat Iraqi gold traded at 621,000 IQD for selling, with a buying price of 617,000 IQD.
Moreover, across Baghdad’s jewelry stores, prices followed the same pattern. Imported 21-carat gold ranged between 650,000 and 660,000 IQD per mithqal. Iraqi gold sold for 620,000 to 630,000 IQD. Iraq gold prices drop as vendors respond to lower demand and currency rate changes. Seasonal shopping patterns and global price trends continue to influence the local market.
Therefore, in Erbil, the Kurdistan Region’s capital, the gold market also softened. The selling price for 22-carat gold settled at 680,000 IQD per mithqal. For 21-carat gold, the price dropped to 650,000 IQD. Meanwhile, 18-carat gold stood at 557,000 IQD. This price movement mirrors what’s happening in Baghdad, confirming regional consistency. Iraq gold prices drop again as both cities align with global pricing conditions.
Additionally, this decline may help shoppers who are waiting for better deals. Buyers are likely to take advantage of this drop, especially for weddings and seasonal events. On the other hand, sellers now face tighter margins and stronger competition. Many of them are adjusting prices daily to remain competitive in the local gold market.
Looking forward, gold rates in Iraq may continue to fluctuate. Global factors like inflation, interest rates, and foreign exchange play a major role. Local market forces also drive changes, especially around major holidays. For now, all eyes remain on how demand will shape prices in the coming weeks.