Gold Prices Experience Decline in Baghdad and Erbil
Gold prices, categorized under “foreign” and “Iraqi” quality, have shown a downturn in the local markets of Baghdad and Erbil as of Wednesday.
Market Overview in Baghdad
In the wholesale markets on Al-Nahr Street in Baghdad, a significant decline was observed. The selling price for one weight of 21-carat gold, catering to Gulf, Turkish, and European markets, reached 607,000 dinars. In contrast, the purchase price stood at 603,000 dinars.
Iraqi 21-carat gold also reported a decrease, with the selling price per weight hitting 577,000 dinars and the purchasing price at 573,000 dinars. According to local goldsmiths, the selling prices for 21-carat Gulf gold ranged from 610,000 to 620,000 dinars, while the price for Iraqi gold fluctuated between 580,000 and 590,000 dinars.
Price Update in Erbil
Erbil mirrored this downward trend in gold prices. For 24-carat gold, the selling price dropped to 703,000 dinars, whereas 22-carat gold sold for 645,000 dinars. The sale price for 21-carat gold was recorded at 615,000 dinars, and 18-carat gold was priced at approximately 522,000 dinars.
Summary of Gold Prices
| Type of Gold | Selling Price (Dinars) | Purchase Price (Dinars) |
|---|---|---|
| Gulf/Foreign 21-carat | 607,000 | 603,000 |
| Iraqi 21-carat | 577,000 | 573,000 |
| Gulf 21-carat (Goldsmiths) | 610,000 – 620,000 | N/A |
| Iraqi 21-carat (Goldsmiths) | 580,000 – 590,000 | N/A |
| 24-carat (Erbil) | 703,000 | N/A |
| 22-carat (Erbil) | 645,000 | N/A |
| 21-carat (Erbil) | 615,000 | N/A |
| 18-carat (Erbil) | 522,000 | N/A |
This overview highlights the current dynamics of the gold markets in Baghdad and Erbil, reflecting changes that are crucial for investors and stakeholders within the precious metals sector.
