Gold Prices Stabilize in Baghdad and Decline in Erbil Amidst Stable Market Conditions

On Wednesday, Shafaq News/ Gold prices remained steady in Baghdad's local markets while witnessing a decline in Erbil, the Kurdistan Region's capital.

Market conditions remained stable, with no significant fluctuations observed.

According to a report by Shafaq News agency, wholesale gold prices on Al-Nahr Street in Baghdad showed no change compared to the previous day. The selling price of one 21-carat weight of Gulf, Turkish, and European gold stood at 400,000 dinars, while the purchase price remained at 396,000 dinars.

Similarly, the selling price of one 21-carat weight of Iraqi gold remained stable at 370,000 dinars, with a purchase price of 366,000 dinars.

In goldsmiths' shops, the selling price of a 21-carat gulf gold weight ranged between 410,000 and 320,000 dinars, while the Iraqi gold price ranged between 380,000 and 390,000 dinars.

In contrast, gold prices in Erbil experienced a decline. The selling price of 24-carat gold was recorded at 465,000 dinars, 21-carat gold at 410,000 dinars, and 18-carat gold at 345,000 dinars.

Market analysts suggest that the stability of gold prices in Baghdad indicates a balanced demand and supply in the market. At the same time, the decline in Erbil may be attributed to local market dynamics.

One mithqal of gold is equivalent to five grams.