Baghdad/Erbil — Gold prices in Iraq showed noticeable shifts on Monday, as markets in Baghdad dropped while Erbil saw a rise.
According to a survey by Shafaq News Agency, prices hovered around 1.08 million IQD per mithqal in both cities.
In Baghdad, gold on Al-Nahr Street sold at 1,085,000 IQD per mithqal for 21-carat varieties, including Gulf, Turkish, and European gold. The buying price reached 1,081,000 IQD.
On Sunday, the same 21-carat gold had sold for 1,090,000 IQD, reflecting a modest decline.
Meanwhile, Iraqi 21-carat gold sold for slightly less, with a selling price of 1,055,000 IQD per mithqal and a buying price of 1,051,000 IQD.
Jewelry stores reported a selling range of 1,085,000 to 1,095,000 IQD per mithqal for Gulf 21-carat gold. Iraqi gold prices ranged from 1,055,000 to 1,065,000 IQD.
In contrast, Erbil experienced rising gold prices on Monday. Local markets sold 22-carat gold at 1,125,000 IQD per mithqal.
The 21-carat varieties reached 1,075,000 IQD, while 18-carat gold sold at 920,000 IQD per mithqal.
Analysts explained that global market fluctuations often directly affect Iraq’s gold prices. Demand, exchange rates, and regional trade all play key roles in daily price movements.
Shoppers and investors responded quickly to the Baghdad drop. Many sought opportunities to buy at lower prices, while Erbil traders benefited from rising demand.
Merchants in both cities noted that gold remains a popular investment. They highlighted that short-term price changes rarely impact long-term trends.
Additionally, local economic factors such as currency strength and import costs continue to influence gold prices in Iraq.
Experts advise that buyers monitor market conditions closely. Timing purchases and sales can help optimize returns amid daily fluctuations.
On Monday, the contrast between Baghdad’s falling gold and Erbil’s rising prices highlighted regional market differences.
Investors and jewelry buyers in Iraq continue to follow price updates closely. Gold prices in Iraq remain a critical benchmark for economic and trade activity.
The ongoing shifts emphasize the importance of monitoring both local and international factors. Supply chains, currency changes, and global demand can swiftly alter market conditions.
Ultimately, gold prices in Iraq reflect both regional market dynamics and broader economic trends, guiding traders and consumers alike.
