Predictions for Gold Prices in Iraq: An Economic Outlook for 2025
Economist Muhammad Al-Hassani forecasts that gold prices in Iraq are poised to reach unprecedented levels in 2025. Al-Hassani’s insights shed light on the potential upward trajectory of gold, influenced by current global economic dynamics.
In a recent analysis, Al-Hassani stated that the series of economic events triggered by U.S. President Donald Trump’s administration, particularly the initiation of trade wars with multiple countries, has prompted both investors and nations to turn to gold as a secure haven.
He further commented on the prospects for gold prices at a global scale, suggesting that the cost of an ounce of gold could exceed $3,000 in the short term if trade tensions persist. However, he noted that the resilience of the U.S. dollar presents a check on the potential escalation of gold prices.
Looking specifically at the Iraqi market, Al-Hassani predicts that the price for one weight of 21-carat gold may exceed 650,000 Iraqi dinars throughout this year, contingent upon the stability of the exchange rate in the parallel market.
The determination of gold prices is a nuanced process; local goldsmiths calculate rates based on a mathematical approach that incorporates global stock exchange trends and the local dollar’s strength.
The rising gold prices have notably impacted Iraq, reflecting a broader trend seen in global markets. Recently, the price of one weight of gold has surged beyond 600,000 Iraqi dinars, highlighting the rapid shifts within this precious metal’s valuation.
As economic conditions fluctuate and trade uncertainties continue, stakeholders in Iraq’s gold market must remain vigilant, tracking both local and global economic indicators that could shape future price movements.
