2024-05-18T09:16:21+00:00
Shafaq News / On Saturday, gold prices climbed in Baghdad and Erbil markets.
Shafaq News Agency’s correspondent reported that gold prices in Baghdad’s Al-Nahr Street recorded a selling price of 491,000 IQD per mithqal (equals to five grams) of 21-carat gold, including Gulf, Turkish, and European gold, with a buying price of 487,000 IQD.
The selling price per mithqal of 21-carat Iraqi gold reached 461,000 IQD, with a buying price of 457,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 495,000 and 505,000 IQD, while the selling price of Iraqi gold fluctuated between 465,000 and 475,000 IQD.
In Erbil, a mithqal of 24-carat gold was sold at 563,000 IQD, 21-carat gold at 493,000 IQD, and 18-carat gold was sold at 422,000 IQD.
Gold prices are influenced by various factors such as global economic conditions, geopolitical events, inflation, and demand-supply dynamics. Investors often turn to gold as a safe haven asset during times of uncertainty or economic instability. Additionally, cultural preferences and traditions play a role in shaping the demand for gold jewelry in different regions.
Additional Insight:
Gold prices are also affected by currency fluctuations, as gold is traded in US dollars globally. Central bank policies, interest rates, and monetary stimulus measures can impact the value of currencies, thereby influencing gold prices. It’s crucial for investors and traders to stay informed about these macroeconomic factors to make informed decisions when it comes to gold investments.
