2024-05-27T08:23:28+00:00
Shafaq News / On Monday, gold prices rose in Baghdad, while they remained stable in Erbil.
Our correspondent reported that gold prices in Baghdad’s Al-Nahr Street recorded this morning a selling price per mithqal (equals to five grams) of 21-carat Gulf, Turkish, and European gold at 488,000 IQD, with a buying price of 484,000 IQD.
The selling price per mithqal of 21-carat Iraqi gold was 458,000 IQD, while the buying price was 454,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 480,000 and 490,000 IQD, while the selling price per mithqal of Iraqi gold ranged between 460,000 and 470,000 IQD.
Meanwhile in Erbil, the selling prices for gold recorded were: 550,000 IQD per mithqal for 24-carat gold, 500,000 IQD for 22-carat gold, 480,000 IQD for 21-carat gold, and 410,000 IQD for 18-carat gold.
### Additional Insight:
#### Impact on the Economy:
The fluctuations in gold prices observed in Baghdad can have a significant impact on the local economy. Rising gold prices may indicate inflationary pressures or increased demand for the precious metal, affecting consumer spending and investment decisions.
#### Regional Disparities:
The contrast between stable gold prices in Erbil and the price increase in Baghdad highlights regional disparities in economic conditions. Understanding these differences can provide valuable insights into broader economic trends and performance indicators.
#### Consumer Behavior:
The variation in selling prices for different carat categories of gold showcases how consumer preferences and purchasing power influence market dynamics. Analyzing these patterns can offer valuable information on consumer behavior and market segmentation within the gold industry.
