Market Update: Gold Prices in Baghdad and Erbil
Gold prices for both foreign and Iraqi gold have seen a decline in the local market of Baghdad, while prices in Erbil, the capital of the Kurdistan Region, remained stable as of Saturday, February 22, 2025.
In the wholesale markets of Baghdad, the price for one weight of 21-carat gold—specifically from Gulf, Turkish, and European sources—was recorded at 618,000 Iraqi dinars for sales, while the purchase price stood at 614,000 dinars. In contrast, the selling price for one weight of 21-carat Iraqi gold was noted at 588,000 dinars, with a purchase price of 584,000 dinars.
Regarding retail prices at goldsmith stores, the selling price for 21-carat Gulf gold ranged between 620,000 and 630,000 dinars, whereas the price for Iraqi gold varied between 590,000 and 600,000 dinars.
In Erbil, gold prices exhibited stability. The selling prices were as follows:
- 24-carat gold: 715,000 dinars
- 21-carat gold: 625,000 dinars
- 18-carat gold: 535,000 dinars
US Dollar Exchange Rates Decline
In addition to changes in gold prices, the US dollar experienced a decrease in its exchange rates this morning in both Baghdad and Erbil. Reports indicate that the dollar price at the Baghdad stock exchanges, particularly on the Al-Hashimi and Al-Harithiya exchanges, was recorded at 14,995.0 dinars for every $100. This reflects a decline from the end of the previous week, when it was pegged at 150,050 dinars for each $100.
This overview provides insights into the current state of gold and currency markets in Iraq, highlighting key price movements that may influence trading and investment decisions in the region.
