Gold prices stabilize in Baghdad, rise in Erbil

Shafaq News / Gold prices, both foreign and domestic, have stabilized in the local markets of Baghdad, while they have seen an increase in the markets of Erbil, the capital of the Kurdistan Region, on Tuesday, August 29, 2023.

According to Shafaq News Agency’s correspondent, gold prices in the wholesale markets on Al-Nahr Street in the capital Baghdad registered a selling price of 411,000 dinars for one "mithqal" (unit of weight) of 21-carat gold from the Gulf, Turkey, and Europe. The buying price was 407,000 dinars, the same as Monday.

Our correspondent also pointed out that the selling price of one mithqal of 21-carat Iraqi gold remained stable at 381,000 dinars, while the buying price was 377,000 dinars.

Regarding gold prices in jewelry stores, the selling price of one mithqal of 21-carat Gulf gold ranges between 415,000 and 425,000 dinars, while the selling price of one mithqal of Iraqi gold varies between 385,000 and 395,000 dinars.

In Erbil, gold prices have increased, with the selling price of one mithqal of 24-carat gold reaching 390,000 dinars. One mithqal of 21-carat gold was sold for 430,000 dinars, and one mithqal of 18-carat gold was sold for 370,000 dinars.

It's worth noting that one mithqal of gold is equivalent to five grams.