The price of 21-carat gold in the domestic market has achieved a historic milestone, reaching 620,000 dinars for the first time.
Abdullah Akram, Deputy President of the Erbil Jewelry Union, reported that the price for 1 gram of 22-carat gold is set at 650,000 dinars, while 24-carat gold stands at 708,000 dinars.
At the lower end of the spectrum, 18-carat gold is priced at 530,000 dinars in the Kurdistan Region. According to Akram, this reflects the current market dynamics.
The Kurdistan Region of Iraq has observed prices soaring to $2,937 per ounce as of Wednesday.
Earlier this month, gold prices were recorded as follows: 21-carat gold at 591,000 dinars, 22-carat gold at 612,000 dinars, 24-carat gold at 668,000 dinars, and 18-carat gold at 500,000 dinars.
When comparing the current prices to the beginning of this year, there has been an increase of 55,000 dinars per gram of gold.
In a geopolitical context, U.S. President Donald Trump reiterated on Wednesday that any nation imposing tariffs on American goods and products would face corresponding tariffs. This statement has raised concerns among traders regarding the potential for an escalated trade war between the United States and numerous other countries.
YP John Rong, an analyst with IG Consulting, noted that “the price of gold has benefited from the uncertainty caused by the trade war among traders.”