Recent market data indicates a decline in gold prices, both foreign and Iraqi, in the local markets of Baghdad and Erbil, the capital of the Kurdistan Region, as of Saturday, February 15, 2025.
Sources report that in the wholesale markets of Baghdad’s River Evangelization area, the selling price for a single weight of 21-carat Gulf, Turkish, and European gold is currently set at 608,000 dinars, with a purchase price of 604,000 dinars.
Iraqi gold prices have also seen a downturn, with the selling price for one weight of 21-carat Iraqi gold recorded at 578,000 dinars, while the purchase price stands at 574,000 dinars.
In retail goldsmith shops, the selling price for 21-carat Gulf gold ranges from 610,000 to 620,000 dinars, and the selling price for Iraqi gold fluctuates between 500,000 and 510,000 dinars.
In Erbil, gold prices have similarly decreased, with 24-carat gold priced at 697,000 dinars, 21-carat gold at 610,000 dinars, and 18-carat gold selling at 522,000 dinars.
Historically, gold prices in Iraq have reached unprecedented levels, paralleling a global increase in precious metal values. This trend has attracted investors seeking gold as a safe haven, particularly since the commencement of former US President Donald Trump’s administration.
| Gold Type | Baghdad Wholesale Price (Selling) | Baghdad Wholesale Price (Purchase) | Goldsmith Shops Price Range | Erbil Price |
|---|---|---|---|---|
| 21-carat Gulf/Turkish/European | 608,000 dinars | 604,000 dinars | 610,000 – 620,000 dinars | 610,000 dinars |
| 21-carat Iraqi | 578,000 dinars | 574,000 dinars | 500,000 – 510,000 dinars | N/A |
| 24-carat | N/A | N/A | N/A | 697,000 dinars |
| 18-carat | N/A | N/A | N/A | 522,000 dinars |