Gold prices continue to climb in Baghdad and Erbil, drawing attention from both investors and buyers. Traders reported a steady upward trend on Thursday, with local gold markets showing stronger activity. Analysts say the demand for gold remains robust despite economic fluctuations.
In Baghdad, the market on Al-Nahr Street recorded a selling rate of 1,130,000 IQD per mithqal for 21-carat gold, including Gulf, Turkish, and European varieties. Buyers paid 1,126,000 IQD per mithqal. This shows an increase from Wednesday, when the same gold sold at 1,126,000 IQD.
Local 21-carat Iraqi gold sold for 1,100,000 IQD, with a buying rate of 1,096,000 IQD. Jewelry stores reported 21-carat Gulf gold prices ranging between 1,130,000 and 1,140,000 IQD per mithqal, while Iraqi gold sold between 1,100,000 and 1,110,000 IQD.
Erbil also witnessed a rise in gold value. Traders sold 22-carat gold at 1,187,000 IQD per mithqal, 21-carat at 1,134,000 IQD, and 18-carat at 971,000 IQD. Experts note that these gold trends reflect broader regional demand.
Economists explain that global uncertainties and local market conditions influence gold prices. Traders advise customers to monitor market updates before purchasing. Many investors view gold as a hedge against inflation.
Consumers show growing interest in both imported and Iraqi gold. Jewelers emphasize that the market remains sensitive to currency changes. Smaller transactions indicate cautious buyer behavior.
In summary, gold prices in Baghdad and Erbil continue to rise steadily. Investors and buyers are advised to follow market updates, as rising demand and economic factors may drive prices even higher.
