Gold prices continued to rise on Saturday across local markets in both Baghdad and Erbil, reflecting higher demand and movements in global gold prices.
According to market data, the wholesale price of one mithqal (about 4.5 grams) of 21-karat Gulf, Turkish, and European gold in Baghdad’s Al-Nahr Street market reached 898,000 Iraqi dinars. The buying price stood at 894,000 dinars, up from 880,000 dinars recorded last Thursday.
Iraqi gold also saw an increase. One mithqal of 21-karat Iraqi gold was selling for 868,000 dinars, while the buying price reached 864,000 dinars.
In jewelry stores across Baghdad, retail prices were slightly higher. The selling price of one mithqal of 21-karat Gulf gold ranged between 890,000 and 900,000 dinars, while Iraqi 21-karat gold was selling between 870,000 and 880,000 dinars.
Gold prices in Erbil followed the same upward trend. The selling price of 22-karat gold reached 956,000 dinars per mithqal, while 21-karat gold was selling for 912,000 dinars. Meanwhile, 18-karat gold reached 782,000 dinars.
Despite the recent increase, prices remain below the record levels seen earlier this year. On January 21, 2026, the price of 21-karat gold exceeded one million Iraqi dinars per mithqal for the first time in local market history.
Gold prices in Iraq are generally determined by two main factors: the international price of gold and the local exchange rate of the U.S. dollar. Changes in either of these factors can directly affect the price of gold in local markets.
The latest rise highlights the continued sensitivity of Iraq’s gold market to global economic conditions and currency movements, with both traders and consumers closely watching price trends.
