Gold prices soar in Baghdad, Erbil

Shafaq News / Gold prices experienced a significant surge in the local markets of the Iraqi capital, Baghdad, and Erbil, the capital of the Kurdistan Region, on Tuesday.

According to Shafaq News Agency's correspondent, wholesale gold prices on Al-Nahr Street in Baghdad indicated a selling price of 403,000 Iraqi dinars for one mithqal (4.66 grams) of 21-carat Gulf, Turkish, and European gold, with a buying price of 399,000 dinars. Meanwhile, the selling price for one mithqal of 21-carat Iraqi gold stood at 373,000 dinars, with a buying price of 370,000 dinars.

In jewelry stores, the selling price of 21-carat Gulf gold ranged between 405,000 and 415,000 dinars, while 21-carat Iraqi gold was sold between 375,000 and 385,000 dinars per mithqal.

In Erbil, gold prices also saw an increase. The selling price for 24-carat gold reached 500,000 dinars per mithqal, while 22-carat gold was sold at 460,000 dinars, 21-carat gold at 440,000 dinars, and 18-carat gold at 380,000 dinars.

One mithqal equals five grams of gold.