Market Update: Gold Prices in Kurdistan Region of Iraq
The price of gold in the Kurdistan Region of Iraq (KRG) experienced a downward adjustment of 10,000 dinars today.
According to Abdullah Akram, deputy president of the Erbil Jewelry Union, “The price of 1 gram of 21 carat gold is currently set at 610,000 dinars.”
In terms of other gold varieties, the prices stand as follows: 18 carat gold is priced at 522,000 dinars, while 24 carat gold is valued at 697,000 dinars.
For further context, the previous pricing in the KRG was as follows: 1 gram of 21 carat gold at 620,000 dinars, 22 carat gold at 650,000 dinars, 24 carat gold at 708,000 dinars, and 18 carat gold at 530,000 dinars.
On Friday, gold saw a decline of 1.6 percent, bringing its price down to approximately $2,800 per ounce.
Peter Grant, vice president of the US-based company Zanner Metal, noted, “The recent drop in gold prices is attributed to profit-taking activities.” Meanwhile, other analysts predict an upward trajectory for gold prices in both the short and long term due to the ongoing trade tensions, rising inflation, and a weakening dollar.
