Baghdad/Erbil – Gold prices fell in Baghdad and Erbil on Wednesday, according to a survey by Shafaq News Agency. Traders reported a noticeable decline in both buying and selling rates.
On Baghdad’s Al-Nahr Street, 21-carat Gulf, Turkish, and European gold sold for 1.047 million IQD per mithqal. Buyers paid 1.043 million IQD per mithqal. This marked a decrease from Tuesday, when the same gold sold for 1.088 million IQD.
Iraqi 21-carat gold also dropped. Its selling price reached 1.017 million IQD, while buyers paid 1.013 million IQD. Jewelry stores reported similar declines. Gulf gold ranged between 1.050 and 1.060 million IQD per mithqal. Iraqi gold ranged between 1.020 and 1.030 million IQD.
Meanwhile, Erbil markets followed the same trend. Traders sold 22-carat gold at 1.128 million IQD per mithqal. 21-carat gold sold for 1.078 million IQD. 18-carat gold prices fell to 923,000 IQD per mithqal. Local jewelers confirmed that demand slightly softened this week, contributing to lower prices.
Analysts noted that market fluctuations follow global gold trends. Rising international supply and investor caution pressured local prices. They advised buyers and sellers to monitor the market closely before large transactions.
Financial experts also explained that small declines in Baghdad and Erbil can signal broader trends. Gold often reacts quickly to currency and geopolitical changes. Therefore, traders expect cautious trading in the coming days.
In conclusion, gold prices fall in Baghdad and Erbil markets, affecting both local and international buyers. Traders continue adjusting their rates to align with market demand. Consumers can find competitive prices, but they should act swiftly to benefit from current declines.
