Gold Prices Decline in Iraqi Markets
On Thursday, gold prices experienced a downturn in the local markets of Baghdad and Erbil, the capital of the Kurdistan Region.
In the wholesale markets located along the River Evangelist in Baghdad, the selling price for 21-carat gold from Gulf, Turkish, and European sources was recorded at 603,000 Iraqi dinars, while the purchase price settled at 599,000 dinars. Notably, the selling price for one weight of Iraqi gold at 21 carats was marked at 573,000 dinars, with a corresponding purchase price of 569,000 dinars.
In the retail sector, goldsmith shops reflected similar trends. The selling price for 21-carat Gulf gold ranged between 605,000 and 615,000 dinars, while Iraqi gold weighed in at a selling price between 575,000 and 585,000 dinars.
The gold market in Erbil also indicated a decrease in prices, with 24-carat gold listed at 700,000 dinars, 22-carat gold at 642,000 dinars, 21-carat at 613,000 dinars, and 18-carat gold at 525,000 dinars.
| Gold Type | Selling Price (Iraq Dinars) | Purchase Price (Iraq Dinars) |
|---|---|---|
| Gulf, Turkish, European (21-carat) | 603,000 | 599,000 |
| Iraqi Gold (21-carat) | 573,000 | 569,000 |
| Gulf Gold (Retail) | 605,000 – 615,000 | N/A |
| Iraqi Gold (Retail) | 575,000 – 585,000 | N/A |
| 24-carat Gold (Erbil) | 700,000 | N/A |
| 22-carat Gold (Erbil) | 642,000 | N/A |
| 21-carat Gold (Erbil) | 613,000 | N/A |
| 18-carat Gold (Erbil) | 525,000 | N/A |
This recent decline in gold prices is indicative of ongoing market fluctuations, and stakeholders in the economy should remain vigilant as these trends continue to develop.
