Gold holds in Baghdad, inches lower in Erbil

Shafaq News/ Gold prices remained stable in the local markets of Baghdad, while they declined in Erbil, on Tuesday, July 9, 2024.

Our correspondent reported that gold prices in Baghdad's wholesale markets on Al-Nahr Street registered a selling price for one mithqal (approximately 4.25 grams) for 21-carat Gulf, Turkish, and European gold of 496,000 IQD, with a buying price of 492,000 IQD.

The selling price for one mithqal of 21-carat Iraqi gold was 466,000 IQD, with a buying price of 462,000 IQD.

In Baghdad's Jewelry shops, the prices for 21-carat Gulf gold ranged between 500,000 IQD and 510,000 IQD per mithqal, while 21-carat Iraqi gold was priced between 470,000 IQD and 480,000 IQD per mithqal.

In Erbil, 24-carat gold was sold at 570,000 IQD per mithqal, 21-carat gold at 500,000 IQD, and 18-carat gold at 430,000 IQD.

Globally, Gold prices edged higher. Spot gold rose 0.4% at $2,368.06 per ounce after falling over 1% on Monday. US gold futures firmed 0.5% to $2,373.90.

In other precious metals, spot silver rose 0.7% to $31.00 per ounce, platinum edged 1.4% higher to $1,010.70 and palladium gained 0.9% to $1,017.94.