Gold prices rose sharply on Tuesday across key markets in Iraq, showing signs of strong market demand. Both Baghdad and Erbil saw significant increases in the price of 21-carat and 22-carat gold. This rise reflects ongoing demand for gold as a secure investment.
On Baghdad’s Al-Nahr Street, a major trading hub, the price for one mithqal of 21-carat gold reached 658,000 IQD. One mithqal equals five grams. This price included Gulf, Turkish, and European gold. Buyers offered slightly lower, with purchase prices around 654,000 IQD. These values show the impact of strong market demand on gold sales.
Iraqi-produced 21-carat gold sold at a lower price. Sellers offered it at 628,000 IQD per mithqal, while buyers paid around 624,000 IQD. The price difference between imported and domestic gold highlights varying preferences among Iraqi buyers.
Gold jewelry stores in Baghdad listed 21-carat Gulf gold between 660,000 and 670,000 IQD. In contrast, Iraqi 21-carat gold ranged from 630,000 to 640,000 IQD. These ranges show how brand, origin, and purity affect retail gold prices.
Meanwhile, in Erbil, the gold market also responded to strong market demand. There, 22-carat gold sold for 692,000 IQD per mithqal. The 21-carat variety reached 660,000 IQD, while 18-carat gold stood at 565,000 IQD. These figures point to regional differences in pricing, possibly driven by local buying patterns.
Overall, the consistent rise in gold prices signals increased investment interest. People often turn to gold during uncertain economic times. In Iraq, where economic shifts and inflation remain ongoing challenges, gold continues to serve as a trusted store of value.
The jump in prices may also reflect international market trends. Global gold values often influence Iraqi markets, especially when investors look for safer assets. Local market activities, including wedding seasons and holidays, may further fuel demand.
With strong market demand continuing, both Baghdad and Erbil traders expect prices to stay high in the coming days. Buyers and sellers alike watch for further fluctuations, adjusting their activities accordingly.
As gold remains a vital asset in Iraqi households, these price changes have real impacts. Families, investors, and jewelers all feel the effects of rising prices and shifting supply.