Gold prices saw an increase in Iraq and Kurdistan Region, while the exchange rate for the US dollar against the Iranian Rial experienced a slight decline. This shift reflects ongoing volatility in both precious metals and currency markets in the region.

Gold Prices on the Rise

On Thursday, Baghdad and Erbil witnessed an uptick in gold prices. In Baghdad’s Al-Nahr Street wholesale markets, the price for 21-carat Gulf, Turkish, or European gold was reported at 516,000 IQD per mithqal (5 grams), with a buying price of 512,000 IQD. Iraqi 21-carat gold was slightly cheaper, with selling and buying prices of 486,000 IQD and 482,000 IQD, respectively. In retail jewelry shops, 21-carat Gulf gold sold between 520,000 and 530,000 IQD per mithqal, whereas Iraqi gold ranged from 490,000 to 500,000 IQD.

Erbil’s Gold Market Prices

In Erbil, the gold market displayed varied prices across different carats. The selling prices for 24-carat gold were set at 588,000 IQD per mithqal, 22-carat gold at 540,000 IQD, 21-carat gold at 515,000 IQD, and 18-carat gold at 440,000 IQD. These prices indicate a more expensive market compared to Baghdad, reflecting regional differences in gold valuation.

Currency Exchange Rate Updates

In currency news, the exchange rate for the US dollar against the Iranian Rial in the Kurdistan Region of Iraq fell slightly to 149,900 dinars per dollar as of Saturday. The broader currency exchange rates in the Kurdistan Region are as follows: €100 equals 162,750 IQD, £100 equals 188,250 IQD, 1000 Swedish kronor equals 123,000 IQD, and 1000 Norwegian krone equals 111,000 IQD. Additionally, the Iranian Rial exchanges at 25.7 IQD per million Rial, with remittance rates at 6,050,000 Rial per $100.