Gold prices in Iraq surged sharply, as markets in Baghdad and Erbil reacted to growing demand. Traders and buyers adjusted quickly, pushing 21-carat, 22-carat, and 18-carat gold to new highs. Consequently, gold maintained its role as a safe investment and a preferred asset for families.
In Baghdad, wholesale prices on Al-Nahr Street jumped significantly. 21-carat Gulf, Turkish, and European gold sold at 965,000 IQD per mithqal, up from 945,000 IQD. Buying prices rose to 961,000 IQD. Meanwhile, 21-carat Iraqi gold traded at 935,000 IQD for selling and 931,000 IQD for buying. Retail jewelry shops reflected similar gains, with Gulf gold selling between 965,000 and 975,000 IQD, and Iraqi gold priced from 935,000 to 945,000 IQD.
Similarly, Erbil markets reported substantial growth. 22-carat gold reached 1,001,000 IQD per mithqal, while 21-carat gold sold at 974,000 IQD. Even 18-carat gold increased to 833,000 IQD per mithqal. Traders in Erbil noted strong interest in higher-carat gold, as buyers sought both investment and jewelry options.
Gold prices rose across Baghdad and Erbil due to several factors. Currency fluctuations, regional trade demand, and global uncertainty pushed investors toward precious metals. Buyers viewed gold as a safe store of value amid economic changes, increasing short-term pressure on sellers.
Traders in Baghdad and Erbil emphasized smooth transactions despite the surge. They balanced supply with rising demand, avoiding sudden shortages. Wholesale and retail markets coordinated to reflect consistent pricing. Consequently, customers experienced orderly purchases even during peak trading periods.
Additionally, gold artisans adjusted making charges to maintain jewelry appeal. Shops ensured that both imported and local gold remained competitive. Seasonal buying trends, like gifts and savings purchases, added further support to the rising prices.
Observers also noted that gold price increases reflected broader economic sentiment. Investors reacted quickly to market cues, while long-term holders welcomed the higher valuations. Traders in Baghdad and Erbil adapted rapidly, demonstrating market resilience.
Overall, Iraq gold prices showed strong momentum across the two major cities. 21-carat, 22-carat, and 18-carat goldsaw notable gains, with Baghdad and Erbil prices reflecting a robust market. Demand and investor confidence kept gold trading active and dynamic.