Gold prices continued their upward trend in Baghdad and Erbil this weekend, reflecting growing market demand. Investors and traders are closely watching the market, as gold remains a key asset for both savings and jewelry.
On Baghdad’s Al-Nahr Street, 21-carat gold, including Gulf, Turkish, and European varieties, sold at 868,000 IQD per mithqal in the morning, up from 834,000 IQD on Thursday. Buyers paid 864,000 IQD, showing strong interest from customers. Meanwhile, Iraqi 21-carat gold traded at 838,000 IQD for selling and 834,000 IQD for buying.
Jewelry stores reported that 21-carat Gulf gold prices ranged from 870,000 to 880,000 IQD per mithqal. Iraqi 21-carat gold sold between 840,000 and 850,000 IQD. Analysts noted that fluctuating supply and increased demand drove these price movements.
In Erbil, gold prices also rose. Traders sold 22-carat gold at 895,000 IQD, 21-carat at 855,000 IQD, and 18-carat at 733,000 IQD per mithqal. Market participants attributed the rise to local buying interest and global gold trends.
Gold remains the most popular investment in Iraq, often sought during economic uncertainty. The repeated key phrase “gold prices” highlights the growing attention and importance of this market trend. Investors are using gold to hedge against currency fluctuations and inflation.
Experts recommend monitoring daily changes, as prices can shift quickly due to regional and international factors. Demand for high-carat gold in jewelry also contributes to rising costs. Buyers are advised to compare prices across Baghdad and Erbil markets to find favorable deals.
Transitioning from Baghdad to Erbil, traders observed similar trends, with both cities experiencing price increases for multiple gold types. 21-carat gold continues to dominate consumer preferences, while higher-carat gold attracts investors seeking long-term value.
The current market indicates that gold prices remain a stable investment despite short-term volatility. Analysts predict that prices may continue their upward path if regional demand persists. Consumers and traders alike are keeping a close watch on both local and global developments affecting the gold market.
As gold prices rise, both investors and jewelry buyers remain active in Baghdad and Erbil, signaling confidence in gold as a reliable store of value. This trend also reinforces gold’s role as a key economic indicator in Iraq.
