2024-06-01T08:34:36+00:00
Gold Prices Remain Stable in Baghdad and Erbil Markets
Shafaq News / On Saturday, gold prices remained stable in Baghdad markets and Erbil, the capital of the Kurdistan Region.
Gold Prices in Baghdad
Shafaq News Agency’s correspondent reported that gold prices in Baghdad’s Al-Nahr Street recorded a selling price of 476,000 IQD per mithqal (equals to five grams) of 21-carat gold, including Gulf, Turkish, and European gold, with a buying price of 472,000 IQD.
The selling price per mithqal of 21-carat Iraqi gold reached 446,000 IQD, with a buying price of 442,000 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 of Iraqi gold fluctuated between 450,000 and 460,000 IQD.
Gold Prices in Erbil
In Erbil, a mithqal of 24-carat gold was sold at 550,000 IQD, 21-carat gold at 480,000 IQD, and 18-carat gold was sold at 410,000 IQD.
US Dollar Exchange Rate
Meanwhile, the U.S. dollar (USD) exchange rate against the Iraqi dinar (IQD) went up in the forex markets of the Iraqi capital city, Baghdad.
Our correspondent said that al-Kifah and al-Harithiya Central Exchanges traded the USD at an opening rate of 145,300 IQD to 100.
Insight:
By analyzing the stability in gold prices in Baghdad and Erbil, it suggests a consistent demand for gold in these regions. This stability could be influenced by various factors such as economic conditions, geopolitical stability, and global gold prices. Investors and traders often closely monitor these price movements to make informed decisions about buying or selling gold. The fluctuation in the US dollar exchange rate against the Iraqi dinar also plays a crucial role in determining the local purchasing power and international trade dynamics.
