Gold Prices Surge in Iraqi Markets
On Thursday, gold prices in Iraq reached unprecedented levels in both the capital city of Baghdad and Erbil, the capital of the Kurdistan Region.
In wholesale markets along the River Evidence in Baghdad, the price for a one-carat weight of 21-carat gold from the Gulf, Turkey, and Europe was recorded at 605,000 dinars, with a purchase price of 601,000 dinars. The sale price for one weight of 21-carat Iraqi gold was reported at 575,000 dinars, while the buying price stood at 571,000 dinars.
Retail Prices in Goldsmith Stores
In retail settings, goldsmith stores noted selling prices for 21-carat Gulf gold at approximately 605,000 to 615,000 dinars. Additionally, the sale price for the weight of Iraqi gold ranged between 575,000 and 585,000 dinars.
Stability in Erbil
Conversely, gold prices in Erbil exhibited relative stability. The sale price for 24-carat gold was reported at 608,000 dinars, while 21-carat gold sold for 603,000 dinars, and 18-carat gold was priced at 517,000 dinars.
Summary of Gold Prices
| Gold Type | Sale Price (IQD) | Purchase Price (IQD) |
|---|---|---|
| Gulf, Turkish, European (21-carat) | 605,000 | 601,000 |
| Iraqi (21-carat) | 575,000 | 571,000 |
| Gulf Gold (Retail 21-carat) | 605,000 – 615,000 | – |
| Iraqi Gold (Retail) | 575,000 – 585,000 | – |
| Erbil (24-carat) | 608,000 | – |
| Erbil (21-carat) | 603,000 | – |
| Erbil (18-carat) | 517,000 | – |
The significant increase in gold prices reflects ongoing economic dynamics and investor behavior in the region, warranting close monitoring by stakeholders and analysts alike.
