Gold prices in Iraq remained steady on Thursday, reflecting consistent local demand and trading activity. This stability reassures both investors and consumers about current precious metal costs.
According to a Shafaq News survey, Baghdad’s Al-Nahr Street reported a selling price of 847,000 IQD per mithqal of 21-carat gold, including varieties from the Gulf, Turkey, and Europe. Buyers paid 843,000 IQD, the same as Wednesday.
Meanwhile, 21-carat Iraqi gold sold for 817,000 IQD per mithqal and bought at 813,000 IQD. These rates indicate stable local market activity and minimal short-term fluctuations.
In jewelry stores across Baghdad, 21-carat Gulf gold ranged from 850,000 to 860,000 IQD per mithqal, while Iraqi gold sold between 820,000 and 830,000 IQD. These variations reflect differences in quality and consumer preferences.
In Erbil, 22-carat gold traded at 885,000 IQD per mithqal, 21-carat gold at 845,000 IQD, and 18-carat gold at 724,000 IQD. Jewelers noted that local demand remained steady, supporting price stability.
Experts say gold prices in Iraq reflect a balance between supply and demand. They add that the market shows minimal influence from external shocks, benefiting both investors and buyers.
Furthermore, analysts highlight that regional trends and global metal prices can affect local rates. However, current conditions create a favorable environment for short-term trading.
In addition, financial advisors recommend that investors monitor currency fluctuations and economic developments, which can influence gold demand.
The stability of gold prices also encourages jewelers to maintain regular inventory levels, avoiding sudden price spikes that could affect consumer confidence.
Traders noted that while international gold markets showed minor fluctuations this week, Iraq’s local market remained insulated, preserving steady rates.
Finally, the overall positive sentiment among consumers and investors contributes to the confidence in Iraq’s gold market, making it a reliable option for both savings and investment.
Looking ahead, traders expect gold prices to remain stable unless geopolitical events or global market shifts occur. They advise local buyers to monitor both domestic and international developments closely.
