Iraq’s gold prices recorded a slight decline on Wednesday across major markets in Baghdad and Erbil. Traders reported lower rates as daily trading activity continued in local gold markets.
Market surveys showed that gold hovered near 1.12 million Iraqi dinars per mithqal in both cities. One mithqal equals approximately five grams of gold in local trading.
Jewelry dealers across Baghdad monitored price movements closely throughout the day. The well-known gold trading area on Al-Nahr Street reported updated market figures.
In that market, the selling price for 21-carat gold reached about 1.120 million dinars per mithqal. This category included Gulf, Turkish, and European gold varieties.
Meanwhile, traders purchased the same gold at approximately 1.116 million dinars. The price showed a noticeable decline compared with Tuesday’s trading session.
During the previous day, the same 21-carat gold sold for nearly 1.130 million dinars. Therefore, Wednesday’s trading reflected a modest drop in market value.
Local Iraqi gold recorded slightly different price levels within Baghdad markets. The selling price for 21-carat Iraqi gold reached about 1.090 million dinars per mithqal.
At the same time, traders bought Iraqi gold at around 1.086 million dinars. Dealers explained that price differences often depend on origin, demand, and craftsmanship.
Jewelry shops across the capital also reported varying retail prices for customers. In many stores, the selling price for 21-carat Gulf gold ranged between 1.120 million and 1.130 million dinars.
Meanwhile, Iraqi gold sold in stores between 1.090 million and 1.100 million dinars per mithqal. These ranges reflected differences in shop policies and daily market demand.
Despite these variations, Iraq’s gold prices remained relatively stable compared with previous weeks. Market participants said buyers continued monitoring gold trends before making purchases.
Meanwhile, trading activity in Erbil followed a similar pattern during Wednesday’s session. Jewelers in the Kurdistan Region updated their price lists early in the day.
In Erbil markets, 22-carat gold sold for about 1.170 million dinars per mithqal. This higher purity gold traditionally commands stronger prices in regional markets.
Additionally, 21-carat gold traded near 1.117 million dinars per mithqal in the city. The price remained close to Baghdad’s market levels.
Lower-purity gold also appeared in jewelry shops across Erbil. For example, 18-carat gold sold at around 957,000 dinars per mithqal.
Economic observers say several factors influence Iraq gold prices across the country. Global gold markets, currency exchange rates, and consumer demand often shape local pricing trends.
Furthermore, seasonal buying patterns can also influence gold demand in Iraq. Weddings and holiday periods often increase jewelry purchases significantly.
Looking ahead, traders expect continued fluctuations depending on international gold prices. As a result, buyers and sellers will continue watching Iraq gold prices closely in the coming days.
