Iraq’s gold markets drew strong attention on Monday as prices climbed steadily in Baghdad and Erbil. Early trading showed renewed momentum, prompting buyers and investors to closely track prices across major markets.
Market surveys indicated gold traded near 1.08 million dinars per mithqal in both cities. In Baghdad, Al-Nahr Street recorded the most activity, and dealers adjusted prices upward throughout the morning. Traders sold 21-carat gold at 1,059,000 dinars per mithqal, while buying prices reached 1,055,000 dinars. Just one day earlier, the same gold traded near 1,044,000 dinars, marking a notable daily gain.
Dealers attributed the rise to stronger demand and regional currency movements, which influenced pricing behavior. Iraqi 21-carat gold followed a similar trend, with sellers pricing it at 1,029,000 dinars per mithqal and buyers offering around 1,025,000 dinars. The narrow spread indicated stable trading conditions.
Inside jewelry stores, prices varied slightly, yet the overall direction remained upward. Gulf-origin 21-carat gold sold between 1,060,000 and 1,070,000 dinars, while Iraqi gold ranged lower at 1,030,000 to 1,040,000 dinars. Buyers compared origins carefully before making purchases.
In Erbil, the market mirrored Baghdad’s momentum. Traders sold 22-carat gold at 1,160,000 dinars per mithqal, 21-carat at 1,105,000 dinars, and 18-carat at 949,000 dinars. Analysts linked the rise to global trends, noting that international gold prices supported local valuations.
Investors often turn to gold during periods of uncertainty, which strengthened demand during volatile sessions. Currency stability also plays a role, as fluctuating exchange rates make gold an attractive safe-haven asset. Economists observed that Iraq gold prices respond quickly to both domestic and global forces.
Jewelry sellers reported steady customer interest, with some buyers viewing gold as a long-term financial safeguard. However, traders urged caution, warning that short-term price swings could affect purchasing decisions. Despite this, confidence remains firm, and many expect prices to stay elevated.
Looking ahead, dealers will monitor global markets closely, as any shift could influence local sessions. Authorities also continue to oversee market transparency to support fair pricing and build consumer trust.
Overall, Iraq’s gold prices continue to shape investment behavior and remain a key financial indicator. As trading progresses this week, the market may test new levels, with demand guiding the next move.
