Gold prices in Iraq hold ground in both Baghdad and Erbil, signaling stability for investors and jewelry buyers. Traders observed minimal changes in rates, suggesting a balanced market.
In Baghdad, gold on Al-Nahr Street recorded a selling price of 736,000 IQD per mithqal for 21-carat varieties, including Gulf, Turkish, and European types. Buyers paid 732,000 IQD, reflecting consistent demand. Meanwhile, 21-carat Iraqi gold sold for 706,000 IQD with a buying rate of 702,000 IQD. Jewelry shops offered Gulf gold between 735,000 and 745,000 IQD per mithqal, while Iraqi gold ranged from 705,000 to 715,000 IQD.
In Erbil, traders reported 22-carat gold at 768,000 IQD per mithqal. The 21-carat varieties sold for 733,000 IQD, while 18-carat gold reached 628,000 IQD. Local jewelers emphasized that these rates remained stable despite minor fluctuations in regional markets.
Market analysts noted that steady gold prices support both local investors and consumers planning to buy jewelry or secure savings. They explained that stable rates provide confidence while mitigating risks associated with currency shifts. Furthermore, regional demand, import trends, and global gold values influence Baghdad and Erbil markets simultaneously.
Investors also watch gold prices closely because they often reflect economic conditions and serve as a hedge against currency fluctuations. Many small investors prefer purchasing gold during stable periods to protect their assets. Additionally, jewelers in Baghdad and Erbil encourage customers to compare prices and quality before making large purchases.
Traders said that despite global market variations, Iraq’s gold market has remained resilient due to steady demand and cautious trading. The selling and buying rates reflect a balance between domestic jewelry needs and regional investor interest. Meanwhile, currency stability in Baghdad and Erbil supports predictable gold pricing, which helps maintain consumer confidence.
Overall, gold prices in Iraq continued to hold ground in both major cities. Analysts suggest that this stability benefits households, jewelers, and investors alike. People can plan purchases or investments without worrying about sudden price swings.