**Analysis of the Iraqi Economy**
The recent decline in the dollar exchange rate against the Iraqi dinar has led to a notable reduction in gold prices within the local markets of Baghdad. On March 1, 2025, significant decreases were recorded, particularly in the prices of both foreign and Iraqi gold.
According to reports, the wholesale market at the River Evidence in Baghdad recorded a selling price for a single weight of 21-carat gold—encompassing Gulf, Turkish, and European gold—at 592,000 dinars, with a corresponding purchase price of 588,000 dinars. The selling price for a weight of 21-carat Iraqi gold was noted at 562,000 dinars, while the purchase price stood at 558,000 dinars.
Gold prices at local goldsmith stores reflected a similar trend. The selling price for 21-carat Gulf gold ranged between 595,000 and 605,000 dinars. In comparison, Iraqi gold was selling within the range of 565,000 to 575,000 dinars.
Furthermore, the market in Erbil also experienced a drop in gold prices. Specifically, the rate for 24-carat gold was recorded at 685,000 dinars. The selling prices for 22-carat, 21-carat, and 18-carat gold stood at 628,000 dinars, 600,000 dinars, and 515,000 dinars, respectively.
| Type of Gold | Baghdad Selling Price (Dinars) | Baghdad Purchase Price (Dinars) | Erbil Selling Price (Dinars) |
|---|---|---|---|
| 21-carat Gulf Gold | 592,000 | 588,000 | 600,000 |
| 21-carat Iraqi Gold | 562,000 | 558,000 | – |
| 22-carat Gold | – | – | 628,000 |
| 24-carat Gold | – | – | 685,000 |
| 18-carat Gold | – | – | 515,000 |
This decline in gold prices, attributed to external currency fluctuations, highlights the direct relationship between the currency market and commodity prices within Iraq. As the economic landscape continues to evolve, stakeholders and investors should closely monitor these developments to gauge their potential impact on both local and regional markets.
