Record High Gold Prices in the Kurdistan Region
Gold prices have surged to unprecedented heights, reaching a remarkable $2,942 per ounce this Tuesday. According to the president of the Erbil Jewels Union, the Kurdistan Regional Government (KRG) is experiencing record levels, emphasizing that “gold prices will be much more expensive” in the near future.
As the trading day commenced at 10:00 AM, 21-carat gold was introduced to the market. Shortly thereafter, however, the price experienced a slight decline, settling at around $2,913 per ounce by 11:00 AM.
Market analysts foresee a continued upward trend in gold prices. The president of the Erbil Jewels Union stated, “The expectations are in that direction; gold prices will continue to rise. If you’re looking to buy, now might be the time, but I advise waiting to sell. By the end of this year, gold prices are expected to climb significantly. Additionally, market fluctuations could be influenced by external factors, including statements from notable political figures.”
The jewelry union has provided the following price breakdown for various gold measurements in the Kurdistan region, reflecting current market dynamics:
| Gold Type | Price (Dinars) |
|---|---|
| 24 Carat Gold | 702,000 |
| 22 Carat Gold | 644,000 |
| 21 Carat Gold | 615,000 |
| 18 Carat Gold | 527,000 |
The gold price recorded was 565,000 dinars per 21-carat gold according to the Erbil Gold Union, marking an increase of approximately $320 per ounce in recent trading activities.
As the market evolves, stakeholders must remain vigilant regarding price movements, which are subject to a variety of economic factors both locally and globally.
