Gold prices in Iraq fell on Thursday, affecting major markets in Baghdad and Erbil. Consequently, traders and buyers felt the immediate impact of lower rates.
In Baghdad, gold hovered around 970,000 IQD per mithqal. Specifically, jewelry shops on Al-Nahr Street sold 21-carat gold for 965,000 IQD per mithqal. Meanwhile, buyers paid 961,000 IQD, down from Wednesday’s 993,000 IQD.
Moreover, Iraqi 21-carat gold recorded lower prices. Shops sold it at 935,000 IQD per mithqal, while buyers paid 931,000 IQD. This decline reflected shifting demand and ongoing market fluctuations.
Additionally, Gulf, Turkish, and European 21-carat gold ranged from 965,000 to 975,000 IQD in selling prices. On the other hand, Iraqi gold remained between 935,000 and 945,000 IQD, showing regional differences. Traders emphasized monitoring daily changes to protect their profits.
In Erbil, gold also experienced declines. For instance, traders sold 22-carat gold at 1.040 million IQD per mithqal. Similarly, 21-carat gold traded at 993,000 IQD, while 18-carat gold fell to 850,000 IQD. Experts attributed these shifts to both local and international market pressures.
Furthermore, analysts highlighted that global economic trends influenced the price drop. For example, rising demand for foreign currency and fluctuating oil prices affected gold values. Consequently, investors responded quickly, buying and selling based on market signals.
Residents also noticed changes in their transactions. As a result, jewelry stores reported fewer buyers willing to pay the previous high prices. In response, some merchants offered promotions to maintain sales and attract customers.
Economists warned that although gold prices in Iraq have dipped, further volatility remains possible. Therefore, traders need to stay alert and adjust strategies according to ongoing market movements. At the same time, authorities continue monitoring rates to prevent sudden spikes or drops that could destabilize local trade.
Overall, Baghdad and Erbil markets reflect dynamic activity in precious metals. Falling gold prices in Iraq create both opportunities and challenges for buyers, sellers, and investors alike. Consequently, tracking these trends remains essential in the coming weeks.
