Gold Prices Reach Historic Highs
Gold markets are experiencing significant upward momentum, with prices reaching unprecedented levels. As of today, the price for 21-carat gold in the domestic market has surged to 623,000 dinars.
According to Abdullah Akram, Deputy President of the Erbil Jewelry Union, the price for 22-carat gold currently stands at 653,000 dinars. Other notable price points include:
| Gold Type | Price (Dinars) |
|---|---|
| 21 Carat | 623,000 |
| 22 Carat | 653,000 |
| 24 Carat | 668,000 |
| 18 Carat | 500,000 |
Year-to-date, the price of gold has increased by approximately 58,000 dinars per gram. As of the latest closing figures, gold prices have seen a minor decline of 0.1 percent, settling at $2,935 per ounce.
This rise in gold prices can be attributed largely to concerns surrounding the global economic landscape, intensifying especially after recent tariff implementations by former President Donald Trump. Over the past year alone, gold prices have increased by 11.5 percent.
Market analysis from experts at the German Commerzbank indicates a spike in demand for gold among Western investors and central banks. “The foundation of the gold market remains robust and expectations are high,” stated Alex Ebkarian, director at Alexis Gold Advisory.
