Gold fluctuates across Iraq: Rise in Baghdad, dip in Erbil

Shafaq News / Gold prices surged in Baghdad, falling in Erbil on Thursday, March 28, 2023.

Our correspondent reported that gold prices in Baghdad’s Al-Nahr Street rose this morning, recording a selling price per mithqal (equals to five grams) for 21-carat gold, including Gulf, Turkish, and European gold, of 453,000 IQD, with a buying price of 449,000 IQD.

The selling price per mithqal of 21-carat Iraqi gold stood at 423,000 IQD, while the buying price reached 419,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 455,000 and 465,000 IQD, while the selling price per mithqal of Iraqi gold fluctuated between 425,000 and 435,000 IQD.

In Erbil, the selling price per mithqal for 24-carat gold was 520,000 IQD, for 21-carat gold it was 455,000 IQD, and for 18-carat gold, it was 390,000 IQD.

Global gold prices steadied on Thursday, as investors digested comments from Federal Reserve Governor Christopher Waller on interest rate cuts and looked forward to more US economic data for policy clues.

Spot gold was up 0.1% at $2,195.59 per ounce. US gold futures edged 0.2% higher to $2,195.10.

Spot silver was steady at $24.68 per ounce, platinum rose 0.7% to $899.75 and palladium climbed 1.4% to $997.41, as reported by Reuters.