Gold Prices Rise in Iraq as Dollar Declines

Gold prices in Iraq rose at the start of the week alongside a decline in the US dollar.

In Baghdad, 21-carat gold reached 978,000 IQD per mithqal for selling and 974,000 for buying.

Prices were around 965,000 IQD last Thursday, showing a noticeable increase.

Iraqi gold of the same purity sold at 948,000 IQD and bought at 944,000.

Retail prices ranged between 980,000 and 990,000 IQD for imported gold.

Iraqi gold ranged between 950,000 and 960,000 IQD.

In Erbil, 22-carat gold reached 1.05 million IQD.

21-carat gold hit 1.002 million IQD, while 18-carat reached 859,000.

Gold pricing depends on global ounce prices and local exchange rates.

Meanwhile, the dollar dropped to 154,450 IQD per 100 USD.

It previously stood at 154,700 IQD.

Analysts link the gold rise to the weaker dollar.