Iraq gold prices moved lower across markets in Baghdad and Erbil. Rates hovered near 860,000 dinars per mithqal for popular 21-carat varieties. Baghdad traders reported lower prices than the preceding trading session. Meanwhile, Erbil markets maintained different rates across several purity levels.
Al-Nahr Street traders quoted 21-carat Gulf, Turkish, and European gold at 856,000 dinars per mithqal. Dealers offered 852,000 dinars when purchasing the same gold from customers. The same category previously reached 862,000 dinars on the selling side. Therefore, the latest quotation marked a decline of 6,000 dinars.
That decrease represented a drop of approximately 0.7% from the preceding rate. Although the change remained modest, it gave buyers a slightly lower entry price. However, gold continued trading near historically elevated levels in local markets. Traders continued monitoring demand throughout Baghdad’s major commercial districts.
Iraqi-produced 21-carat gold recorded lower prices than foreign varieties. Baghdad dealers sold Iraqi gold for 826,000 dinars per mithqal. Meanwhile, they bought the same gold for 822,000 dinars. Therefore, both buying and selling prices carried a 4,000-dinar spread.
Imported and Iraqi gold showed a clear price difference in Baghdad. Foreign varieties cost 30,000 dinars more on the selling side. They also carried a 30,000-dinar premium on the buying side. These differences can reflect production, design, origin, and local customer preferences.
Jewelry stores reported wider retail price ranges across the capital. Shops offered 21-carat Gulf gold between 855,000 and 865,000 dinars per mithqal. Meanwhile, Iraqi gold ranged between 825,000 and 835,000 dinars. Therefore, customers faced different prices depending on the shop and product.
Retail rates can vary because jewelers include workmanship and other commercial costs. Different designs may also carry separate production charges. Furthermore, individual shops adjust their margins according to demand and available supplies. Buyers should compare several quotations before completing a purchase.
Erbil dealers recorded higher prices for gold with greater purity. They priced 22-carat gold at 908,000 dinars per mithqal. Meanwhile, 21-carat gold reached 867,000 dinars. Dealers also quoted 18-carat gold at 744,000 dinars per mithqal.
The gap between Erbil’s 22-carat and 21-carat prices reached 41,000 dinars. Additionally, 21-carat gold cost 123,000 dinars more than 18-carat gold. Higher carat levels contain a greater proportion of pure gold. Consequently, customers generally pay more for higher-purity products.
Erbil’s 21-carat rate exceeded Baghdad’s main foreign gold quotation by 11,000 dinars. However, Baghdad jewelry stores offered some products near Erbil’s reported price. The upper Baghdad retail rate reached 865,000 dinars per mithqal. Therefore, local shop prices narrowed the difference between the two cities.
Buying and selling prices serve different purposes within the gold market. Customers pay the selling rate when purchasing gold from dealers. Conversely, dealers offer the buying rate when customers sell their gold. The difference between the two rates creates the dealer’s trading margin.
A mithqal represents five grams within these local market quotations. Therefore, even small changes can affect customers’ purchasing several mithqals. Families often buy gold for weddings, savings, or personal use. Investors also monitor prices when considering gold as a store of value.
International gold movements can influence prices across Iraqi markets. Currency changes can also affect the local dinar cost of precious metals. Moreover, supply and consumer demand may create differences between Baghdad and Erbil. Retail charges can produce further variations among individual jewelry shops.
Customers should examine gold purity before comparing available prices. They should also ask whether the quoted rate includes workmanship charges. Additionally, buyers should request clear information about weight and carat level. These steps can help them understand the final purchase cost.
Overall, Iraq’s gold prices retreated across key markets in Baghdad and Erbil. Baghdad’s main 21-carat foreign gold rate fell to 856,000 dinars per mithqal. Erbil’s 21-carat rate reached 867,000 dinars, while 22-carat gold reached 908,000 dinars. Future market movements will determine whether the decline continues.
