2024-06-03T08:55:23+00:00
Shafaq News / On Monday, gold prices recorded a downward trend in Baghdad, while they remained stable in Erbil.
Our correspondent reported that gold prices in Baghdad’s Al-Nahr Street recorded a selling price per mithqal (equals to five grams) for 21-carat Gulf, Turkish, and European gold sold of 474,000 IQD, with a purchase price of 470,000 IQD.
One mithqal of 21-carat Iraqi gold was selling at 444,000 IQD, with a buying price of 440,000 IQD.
In gold shops, the selling price per mithqal of 21-carat Gulf gold ranged between 475,000 and 485,000 IQD, while the selling price of 21-carat Iraqi gold ranged between 445,000 and 455,000 IQD
In Erbil, the price of one mithqal of 24-carat gold was 550,000 IQD, 22-carat gold was 500,000 IQD, 21-carat gold was 480,000 IQD, and 18-carat gold was 410,000 IQD.
### Insight:
#### Trend in Gold Prices
The article highlights a downward trend in gold prices in Baghdad, contrasting with the stable prices in Erbil. This disparity could be attributed to various factors such as demand-supply dynamics, economic conditions, or geopolitical factors affecting different regions differently.
#### Price Discrepancy in Gold Variants
The specific prices mentioned for different variants of gold like 21-carat Gulf, Turkish, European, and Iraqi gold reveal a significant price range in the market. This variability might indicate preferences among buyers for certain types of gold or market fluctuations impacting different variants unequally.
#### Regional Variations in Gold Pricing
The article mentions distinct prices for gold in Baghdad and Erbil, suggesting regional variations in the gold market. These differences could be influenced by factors like local demand, availability of resources, or economic development in each region.
#### Impact of Carat on Gold Prices
The detailed breakdown of prices based on the carat of gold (24, 22, 21, 18) showcases how the purity of gold influences its market value. Understanding these price differentials based on carat can provide insights into consumer preferences and market trends in the gold industry.
