Shafaq News / Gold prices, both foreign and local, witnessed a decline in the local markets of Baghdad and the capital of Kurdistan Region, Erbil, on Saturday, July 30, 2023.

The Iraqi markets opened this Sunday with a significant drop in the exchange rate of the US dollar against the Iraqi dinar in both Baghdad and Erbil.

Shafaq News Agency's correspondent reported that in the wholesale gold markets on Al-Nahr Street in Baghdad, the selling price of one mithqal of Iraqi, Turkish, and European 21-carat gold stood at 420,000 dinars, while the buying price was 416,000 dinars. This is a decrease compared to the previous Thursday's selling price of 428,000 dinars per mithqal.

Furthermore, the selling price of one mithqal of Iraqi 21-carat gold also saw a decline, reaching 390,000 dinars, with a buying price of 386,000 dinars.

As for gold prices in jewelry shops, the selling price of one mithqal of 21-carat Gulf gold ranged between 430,000 and 440,000 dinars, while the selling price of one mithqal of Iraqi gold varied between 400,000 and 410,000 dinars.

In Erbil, gold prices also experienced a decline. The selling price of one mithqal of 24-carat gold was 385,000 dinars, while 22-carat gold was sold at 445,000 dinars. Additionally, 21-carat gold was sold at 425,000 dinars, and 18-carat gold was sold at 365,000 dinars. It's important to note that one mithqal of gold is equivalent to five grams.