Iraqi Gold Prices Stabilize Near 960,000 Dinars Amid Global Bullion Ebb

Gold prices in Baghdad and Erbil remained stable on Saturday, hovering near 960,000 Iraqi dinars per mithqal. This follows weeks of a global rally that pushed bullion to historic highs.

The current prices are reflected in the data from Trading Economics, which shows international gold retreated by 0.92 percent to 4,432.56 US dollars per troy ounce on Friday. Despite this dip, gold remains up 4.36 percent over the past month and 23.38 percent over the past year.

In Baghdad's main bullion hub, Al-Nahr Street, 21-carat imported gold was sold at 970,000 Iraqi dinars per mithqal, while locally refined Iraqi product fetched between 940,000 and 950,000 dinars. The stability in prices is a notable development given the market's sensitivity to economic, political, and social shocks.