Gold prices moved lower on Wednesday in the local markets of Baghdad and Erbil, with prices dropping across all gold categories.
In Baghdad’s wholesale market on Al-Nahr Street, one mithqal (around 4.5 grams) of 21-karat Gulf, Turkish, and European gold was sold for 1,008,000 Iraqi dinars and bought for 1,004,000 dinars. A day earlier, the same gold was selling at 1,012,000 dinars per mithqal.
The price of 21-karat Iraqi gold also declined. One mithqal was sold for 978,000 dinars, while the buying price stood at 974,000 dinars.
In local jewelry shops, 21-karat Gulf gold was selling between 1,010,000 and 1,020,000 dinars per mithqal. Iraqi gold of the same purity was priced between 980,000 and 990,000 dinars per mithqal.
In Erbil, gold prices also saw a drop. The selling price of 22-karat gold reached around 1,041,000 dinars, while 21-karat gold was priced at 993,000 dinars. Meanwhile, 18-karat gold was selling for approximately 852,000 dinars.
