Gold prices in Iraq remain steady in Iraq’s key markets, bringing confidence to both buyers and traders. Both Baghdad and Erbil have reported only minor changes in gold prices, according to a new market survey.
In Baghdad, prices on Al-Nahr Street showed consistency. The selling price for 21-carat gold reached 668,000 IQD per mithqal, equal to five grams. This applied to Gulf, Turkish, and European gold. The buying price followed closely at 664,000 IQD.
For local Iraqi gold of the same purity, the selling price was 638,000 IQD. Buyers paid 634,000 IQD to sell. Jewelry shops across Baghdad offered 21-carat Gulf gold between 670,000 and 680,000 IQD. Iraqi gold in these shops sold for between 640,000 and 650,000 IQD.
Meanwhile, Erbil displayed slightly higher gold prices but followed the same stable pattern. There, 22-carat gold sold at 707,000 IQD per mithqal. The price for 21-carat gold stood at 675,000 IQD. For 18-carat gold, the price was 578,000 IQD.
This stability benefits both ends of the market. Jewelers and customers enjoy a calm trading environment. Buyers now feel confident making purchases or investing in gold without fearing sudden price jumps.
Stable prices also reflect a healthier economic and currency climate across Iraq. Although markets always face potential shifts, the current gold pricing suggests a strong and balanced supply-demand pattern.
Experts believe the current calm may continue in the short term. However, they will continue to watch global economic trends and local buying activity. Any shifts in currency value, demand, or external markets may influence future prices.
Political developments and central bank decisions could also play a role in shaping gold’s direction in Iraq. Seasonal factors, especially during holidays and weddings, may drive occasional spikes in demand.
For now, gold prices in Iraq remain predictable. Baghdad and Erbil markets offer a reliable environment for buying and selling gold with confidence, attracting both investors and everyday consumers alike.