Gold prices in Baghdad and Erbil continued their rise trend in Iraq, with Baghdad and Erbil markets reporting noticeable increases in wholesale and retail rates. The gold market, especially in the capital and the Kurdistan Region, showed clear signs of growth in both demand and pricing.
In Baghdad’s bustling al-Nahr Street, traders reported a significant jump in the price of 21-carat gold. The price of one mithqal, which equals about 4.25 grams, rose to 655,000 IQD for gold sourced from the Gulf, Turkey, or Europe. The purchase rate climbed as well, reaching 651,000 IQD. This marked a clear increase from the previous trading session.
Locally produced 21-carat Iraqi gold in Baghdad also experienced rise in gold price. Sellers offered it at 624,000 IQD per mithqal, while buyers paid 620,000 IQD. Jewelry shops in Baghdad followed this trend by listing 21-carat Gulf gold between 655,000 and 665,000 IQD. Prices for Iraqi 21-carat gold in stores ranged from 625,000 to 635,000 IQD per mithqal.
In Erbil, the gold market mirrored Baghdad’s surge. Wholesale prices for 22-carat gold reached 692,000 IQD per mithqal. Meanwhile, 21-carat gold hit 660,000 IQD, and 18-carat gold sold for 565,000 IQD. This movement in Erbil reflects both regional economic conditions and the enduring value of gold as a financial safe haven.
Jewelry dealers across both cities attributed the rise to several ongoing factors. First, continued fluctuations in global gold prices play a major role. As international markets shift, Iraqi gold sellers adjust quickly to maintain profitability and match supply with demand. Secondly, local economic uncertainties lead many Iraqis to invest in gold as a more stable asset.
Moreover, seasonal demand also contributes to price shifts. Summer weddings and gift-giving traditions usually increase purchases, further pushing prices up in local stores and wholesale markets alike. Dealers remain watchful as buyers continue to show interest in high-quality gold jewelry and bullion.
Despite challenges in the broader economy, gold prices in Iraq sector remains strong. Both Baghdad and Erbil play central roles in supplying gold to residents and investors seeking secure, long-term value.