Iraq gold prices Skyrocket sharply in Baghdad and Erbil, reflecting growing demand and market fluctuations. In Baghdad, gold traders reported significant increases for 21-carat and local Iraqi varieties. On Al-Nahr Street, the selling price of 21-carat gold from Gulf, Turkish, and European sources reached 810,000 IQD per mithqal, while buyers paid 806,000 IQD. Meanwhile, Iraqi 21-carat gold sold at 780,000 IQD per mithqal, with a buying rate of 776,000 IQD.
Therefore, jewelry shops in Baghdad listed Gulf gold between 810,000 and 820,000 IQD per mithqal, while Iraqi gold ranged from 780,000 to 790,000 IQD. These movements indicate that Iraq gold prices continue to rise amid currency fluctuations and regional economic uncertainty. Traders emphasized that market activity remains high, especially for premium-quality gold.
Additionally, in Erbil, gold prices followed a similar upward trend. In Erbil, sellers priced 22-carat gold at 873,000 IQD per mithqal, 21-carat at 833,000 IQD, and 18-carat at 715,000 IQD. Exchange offices and jewelry stores adjusted rates daily to match Baghdad market shifts and meet local demand. Analysts noted that global bullion prices, currency fluctuations, and local economic activity drive Iraq gold prices.
Consumers and investors in Iraq closely monitor gold prices, as the metal remains a key store of value. Rising rates have sparked increased sales in both cities, with buyers seeking to hedge against inflation and currency fluctuations. Market experts suggest that Iraq gold prices may continue to fluctuate in the short term, depending on local economic developments and global gold trends.
Therefore, the skyrocket in Iraq gold prices highlights the importance of gold as both an investment and a cultural asset in the country. Traders, investors, and ordinary citizens now face higher costs but maintain confidence in gold’s long-term stability and potential protection against inflation, currency fluctuations, and economic uncertainty across local and global markets.