Gold prices drop in Baghdad, Erbil

Shafaq News/ Gold prices, both "foreign" and Iraqi, witnessed a decline in local markets in the capital Baghdad and in Erbil, the capital of the Kurdistan Region, on Wednesday, May 1, 2024.

Shafaq News Agency correspondent reported that gold prices in the wholesale markets on al-Nahr Street in Baghdad recorded a selling price per mithqal (equal to five grams) of 21-carat Gulf, Turkish, and European gold at 467,000 Iraqi dinars (IQD), and a buying price of 463,000 IQD.

The selling price per mithqal of 21-carat Iraqi gold reached 437,000 IQD, while the buying price was 433,000 IQD.

As for gold prices in jewelry stores, the selling price of a mithqal of 21-carat Gulf gold ranges between 470,000 IQD and 480,000 IQD, while the selling price of a mithqal of Iraqi gold ranges between 440,000 IQD and 450,000 IQD.

In Erbil, the selling price per mithqal of 24-carat gold was 540,000 IQD, 22-carat gold was 500,000 IQD, 21-carat gold was 475,000 IQD, and 18-carat gold was 410,000 IQD.