Shafaq News / Gold prices, both foreign and Iraqi, witnessed a significant increase in the local markets of the capital Baghdad while remaining stable in Erbil, the capital of the Kurdistan Region, on Tuesday, March 5, 2023.

Our correspondent reported that gold prices in the wholesale markets on Al-Nahr Street in Baghdad recorded this morning a selling price per mithqal (equals five grams) of 21-carat gold from Gulf, Turkish, and European sources at 443,000 IQD, with a buying price of 439,000 IQD.

On Monday, gold prices in Baghdad recorded a selling price for 21-carat gold from Gulf, Turkish, and European sources of 435,000 IQD, with a buying price of 431,000 IQD.

Our correspondent noted that the selling price per mithqal of 21-carat Iraqi gold reached 413,000 IQD, while the buying price was 409,000 IQD.

Regarding gold prices in jewelry shops, the selling price per mithqal of 21-carat Gulf gold ranged between 445,000 and 455,000 IQD, while the selling price of Iraqi gold ranged between 415,000 and 425,000 IQD.

As for gold prices in Erbil, the selling price per mithqal of 24-carat gold was 510,000 IQD, 21-carat gold was sold at 450,000 IQD, and 18-carat gold was sold at 390,000 IQD.

According to Reuters, global gold prices steadied near a three-month peak on Tuesday, supported by subdued US manufacturing and construction spending, as investors awaited testimony from Federal Reserve Chair Jerome Powell and key jobs data later this week.

Spot gold was flat at $2,114.59 per ounce, hovering around Monday's levels of $2119.69 marked its highest point since Dec. 4. Meanwhile, US gold futures edged 0.2% lower to $2,121.60.