Gold Prices Decline in Baghdad and Erbil Markets
Gold prices in Iraq’s major markets of Baghdad and Erbil experienced a downturn on Tuesday. In Baghdad, 21-carat gold from the Gulf, Turkey, and Europe saw a slight drop, trading at 930,000 Iraqi dinars per mithqal (about five grams) in wholesale markets. The buying price stood at 926,000 dinars, down from 935,000 dinars the previous day. Meanwhile, locally produced 21-carat gold was priced at 900,000 dinars for sale and 896,000 dinars for purchase.
Jewelry shops in Baghdad reflected similar trends, with 21-carat Gulf gold selling between 930,000 and 940,000 dinars per mithqal, while Iraqi gold ranged from 900,000 to 910,000 dinars. In Erbil, prices for 22-carat gold fell to 981,000 dinars per mithqal, with 21-carat and 18-carat gold priced at 937,000 dinars and 803,000 dinars, respectively.
Globally, the decline in gold prices mirrored local trends. Spot gold dipped 0.3% to $4,128.83 per ounce by 0400 GMT, while US gold futures remained nearly unchanged at $4,155.90. Other precious metals also saw reductions, with spot silver falling 0.6% to $60.69, platinum losing 0.5% to $1,712.20, and palladium easing 0.5% to $1,166.86.