Rising Gold Prices in Iraq: A Market Overview
The local markets in Baghdad and Erbil have observed an uptick in gold prices, with both foreign and Iraqi gold experiencing increases as of Monday.
In Baghdad, according to market reports from the River Evangelization area, the wholesale price for a single weight of 21-carat Gulf, Turkish, and European gold reached 610,000 dinars for selling and 606,000 dinars for purchasing this morning. Meanwhile, Iraqi gold of the same quality was recorded at a selling price of 580,000 dinars, with the purchasing rate standing at 576,000 dinars.
In retail outlets, the market for goldsmiths reflects a similar trend, where the selling prices for 21-carat Gulf gold weights range between 610,000 and 620,000 dinars. The selling prices for Iraqi gold weights range from 500,000 to 510,000 dinars.
Gold Prices in Erbil
Erbil is experiencing a similar surge in gold prices. Specifically, the price for 24-carat gold is at 700,000 dinars, while the prices for other carats are as follows: 22-carat gold is selling for 642,000 dinars, 21-carat gold is at 613,000 dinars, and 18-carat gold has a selling price of 525,000 dinars.
Summary of Gold Prices
| Gold Type | Selling Price (Dinars) | Purchasing Price (Dinars) |
|---|---|---|
| Gulf/European/Turkish 21-carat | 610,000 | 606,000 |
| Iraqi 21-carat | 580,000 | 576,000 |
| Retail Gulf 21-carat range | 610,000 – 620,000 | N/A |
| Retail Iraqi 21-carat range | 500,000 – 510,000 | N/A |
| Erbil 24-carat | 700,000 | N/A |
| Erbil 22-carat | 642,000 | N/A |
| Erbil 21-carat | 613,000 | N/A |
| Erbil 18-carat | 525,000 | N/A |
The dynamics of gold pricing in these key Iraqi markets suggest an evolving economic environment, reflecting both local demand and broader market trends.
