Gold prices drop again in Iraq’s key markets, with Baghdad and Erbil seeing notable declines across various carat types. This price movement reflects shifting demand patterns and fluctuations in the global gold market. Iraqi buyers and traders responded quickly to the latest figures reported from key commercial zones.
Additionally, on Baghdad’s Al-Nahr Street, which is known for its busy gold trade, the price for 21-carat gold dropped slightly. The new selling price reached 664,000 Iraqi dinars per mithqal, which equals five grams. This includes Gulf, Turkish, and European varieties. The buying price also dipped to 660,000 dinars, offering customers a slight break in cost.
Meanwhile, prices for locally-produced gold followed the same pattern. Iraqi 21-carat gold was sold at 634,000 dinars, with buying prices reaching 630,000. These figures confirm a general market trend pushing prices downward in Baghdad’s jewelry sector.
Jewelry stores across the capital also adjusted their pricing. The selling price for 21-carat Gulf gold ranged between 665,000 and 675,000 dinars per mithqal. Locally-crafted Iraqi gold sold for between 635,000 and 645,000 dinars, showing slight variance depending on the store and region.
In Erbil, the capital of the Kurdistan Region, prices were similar. The selling price for 22-carat gold stood at 700,000 dinars per mithqal. For 21-carat gold, the price reached 670,000 dinars. Customers looking for more affordable options found 18-carat gold selling at 575,000 dinars per mithqal.
These numbers suggest a broader market correction as Iraq’s gold sector continues to respond to regional supply and consumer demand. Gold prices drop as traders try to stay competitive and customers wait for further changes before making purchases.
The drop in prices also comes at a time when many Iraqi families prepare for seasonal celebrations, increasing interest in gold buying. Gold prices drop remains the top concern for both buyers and sellers across Baghdad and Erbil.