Gold prices in Iraq showed mixed trends on Saturday, with stability in Baghdad and a modest rise in Erbil. Traders and investors monitored both markets closely.
In Baghdad, 21-carat gold held steady near 1.13 million IQD per mithqal, according to a survey by Shafaq News Agency. The selling price on Al-Nahr Street ranged from 1.130 million to 1.140 million IQD, covering Gulf, Turkish, and European varieties.
Meanwhile, the buying price for 21-carat gold in Baghdad remained at 1.126 million IQD. This level matched Thursday’s rates, signaling no significant market change. Traders noted that Iraqi 21-carat gold sold for 1.100 million IQD per mithqal, with buying prices around 1.096 million IQD.
Jewelry stores confirmed these prices. Gulf 21-carat gold sold between 1.130 million and 1.140 million IQD, while Iraqi gold ranged from 1.100 million to 1.110 million IQD per mithqal. Local dealers emphasized that demand remained steady in Baghdad, keeping gold prices in Iraq stable.
In contrast, Erbil’s gold market recorded a slight increase. Twenty-one carat gold rose to 1.135 million IQD per mithqal. Meanwhile, 22-carat gold sold at 1.188 million IQD, and 18-carat gold reached 973,000 IQD. Market watchers said Erbil’s gains reflect higher local demand and regional trading trends.
Analysts explained that gold prices in Iraq fluctuate depending on both supply and buyer activity in each city. Baghdad’s stability contrasts with Erbil’s modest rise, highlighting regional differences in trading patterns.
Additionally, traders noted that international factors influence local markets. Price movements in Gulf, Turkish, and European gold impact Baghdad’s sales. In Erbil, cross-border demand and limited supply also affect trading.
Looking ahead, market experts expect gold prices in Iraq to remain relatively stable in Baghdad, while Erbil may see slight increases depending on buyer interest. Investors continue watching both cities carefully for potential fluctuations.
Overall, gold prices in Iraq illustrate a market balancing local demand with regional influences. Baghdad’s stability and Erbil’s small rise show how city-specific factors shape pricing.
