Gold prices rise in Baghdad, Erbil Markets amid US Dollar appreciation

Shafaq News / Gold prices, both foreign and Iraqi, have risen in local markets in the capital Baghdad and in Erbil, the capital of the Kurdistan Region, on Wednesday, May 3, 2023, in tandem with the rise in the US dollar exchange rate against the Iraqi dinar.

A correspondent for Shafaq News Agency reported that wholesale gold prices in Baghdad's Al-Naher street recorded a selling price of 401,000 dinars per one mithqal of 21-carat Gulf, Turkish, and European gold, and a buying price of 397,000 dinars, while Tuesday's selling prices were 392,000 dinars per one mithqal.

The correspondent also noted that the selling price of one mithqal of 21-carat Iraqi gold also increased to 371,000 dinars, with a buying price of 367,000 dinars. As for gold prices in jewelry shops, the selling price of one mithqal of 21-carat Gulf gold ranges between 400,000 and 410,000 dinars, while the selling price of one mithqal of Iraqi gold ranges between 370,000 and 380,000 dinars.

Gold prices in Erbil also witnessed an increase, with the selling price of one mithqal of 24-carat gold at 470,000 dinars, 22-carat gold at 435,000 dinars, 21-carat gold at 420,000 dinars, and 18-carat gold at 355,000 dinars.

One mithqal of gold is equivalent to five grams.