Gold prices rise in Erbil and dropped in Baghdad, with values declining in Baghdad while increasing in Erbil markets. Traders and investors are closely watching these shifts.
In Baghdad, gold prices edged lower. The selling price of 21-carat gold, including Gulf, Turkish, and European varieties, reached 738,000 IQD per mithqal, while the buying price stood at 734,000 IQD. Meanwhile, 21-carat Iraqi gold sold at 708,000 IQD, with a buying price of 704,000 IQD.
Jewelry stores reported slight variations. The selling price for Gulf gold ranged between 740,000 and 750,000 IQD per mithqal, while Iraqi gold prices varied from 710,000 to 720,000 IQD. These differences reflect the changing dynamics of local demand and global trends.
In contrast, gold prices rise in Erbil’s gold markets. Traders sold 22-carat gold at 775,000 IQD per mithqal, 21-carat at 740,000 IQD, and 18-carat at 635,000 IQD. The rise highlights stronger local demand and investor confidence in Erbil’s economy.
The divergence between Baghdad and Erbil markets indicates regional variations in investment activity. Factors such as local demand, trading volume, and currency fluctuations continue to influence gold prices. Consequently, buyers and sellers are adjusting their strategies daily to maximize returns.
Furthermore, the difference between 21-carat and 22-carat gold prices demonstrates market preference. Investors often favor 22-carat gold for its higher purity, while jewelry buyers choose 21-carat gold for its durability. Meanwhile, 18-carat gold remains popular for specialized ornaments and decorative purposes.
Market experts advise closely monitoring the Baghdad and Erbil trends. Prices in Baghdad may continue to fluctuate downward, while Erbil shows a steady upward movement. Moreover, global gold trends, inflation rates, and geopolitical tensions can also affect Iraqi gold markets.
In summary, Iraq gold prices reveal contrasting movements: falling in Baghdad and gold prices rise in Erbil. Traders, investors, and jewelry buyers should consider these trends when making purchases. As the market continues to evolve, monitoring local and global factors remains essential.