Gold prices in Baghdad experienced a slight decline on Saturday, reflecting ongoing market fluctuations. According to a recent survey, Baghdad’s wholesale markets along Al-Nahr Street showed notable changes in the trading of 21-carat gold.
The selling price per mithqal (about five grams) for Gulf, Turkish, and European 21-carat gold was recorded at 652,000 Iraqi dinars (IQD). Meanwhile, buyers offered prices around 648,000 IQD for the same gold quality.
Furthermore, 21-carat Iraqi gold in the wholesale sector sold for 622,000 IQD per mithqal, while buyers paid close to 618,000 IQD. These figures indicate a minor drop compared to previous days.
Jewelry shops in Baghdad offered a wider price range for 21-carat Gulf gold, with selling prices varying between 655,000 and 666,000 IQD. At the same time, 21-carat Iraqi gold sold between 625,000 and 635,000 IQD in retail outlets.
This price movement reflects various factors affecting the gold market. International trends, currency fluctuations, and local economic conditions play key roles in shaping daily prices.
Consequently, buyers and sellers in Baghdad closely monitor these changes to adjust their offers accordingly. The inherent volatility of the gold market encourages traders to remain flexible and competitive.
Investors often turn to gold as a safe asset during unstable periods, which influences buying and selling behavior. At the same time, jewelry consumers respond to price shifts when making purchases, contributing to the dynamic market environment.
Buyers face slightly lower prices than in previous days, providing potential opportunities to invest. Meanwhile, sellers aim to balance profit margins while responding to changing demand levels. This careful balance keeps the market active despite recent declines.
Baghdad’s gold prices continue to shift, influenced by a mix of local dynamics and global market trends.. Both investors and consumers watch the market carefully, anticipating further changes. The daily fluctuations remind traders of the need for vigilance and adaptability to maintain a strong position in the market.
