2023-11-23T08:59:26+00:00
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/ The prices of “foreign and Iraqi” gold rose in the local markets in the capital, Baghdad, and in Erbil, the capital of the Kurdistan Region, today, Thursday, (November 23, 2023).
Agency correspondent said that gold prices in the wholesale markets on Al-Nahr Street in the capital,Baghdad,recorded this morning,the selling price of one 21-carat mithqal of Gulf,turkish and European gold at 443 thousand dinars,and the purchase price at 439 thousand dinars.
Our correspondent indicated that the selling price of one mithqal of 21 carat iraqi gold was recorded at 413 thousand dinars, and the purchase price reached 409 thousand dinars.
Regarding gold prices in goldsmiths’ shops, the selling price of a 21-carat Gulf gold mithqal ranges between 445,000 and 455,000 dinars, while the selling price of an Iraqi gold mithqal ranged between 415,000 and 425,000 dinars.
As for gold prices in Erbil, the selling price of 24 karat gold sold for 510 thousand dinars, 21 karat sold for 470 thousand dinars, 21 karat sold for 450 thousand dinars, and 18 karat sold for 390 thousand dinars.
One mithqal of gold is equal to five grams.
What are the current gold prices in Baghdad and Erbil as of November 2023?
Interview with Dr. Layla Hasan, Gold Market Expert
Time.news Editor: Thank you for joining us today, Dr. Hasan. Recent reports indicate that gold prices are on the rise in Baghdad and Erbil. Can you provide us with an overview of the current gold market situation in these areas?
Dr. Layla Hasan: Absolutely, and thank you for having me.As of November 23, 2023, we’ve seen a notable increase in gold prices, particularly in Baghdad and Erbil. In Baghdad, the wholesale market prices for 21-carat gold are reported at 443,000 dinars for selling and 439,000 dinars for buying. meanwhile, the local goldsmiths’ shops reflect slightly higher prices, ranging from 445,000 to 455,000 dinars for Gulf gold. This upward trend applies to both foreign and Iraqi gold varieties.
Time.news Editor: Interesting! What factors do you believe are driving this price increase in the gold market?
Dr. Layla Hasan: Several factors contribute to the rising gold prices.Firstly, global economic uncertainties and inflation fears generally prompt investors to flock to gold as a safe-haven asset. Additionally, fluctuations in the value of local currencies compared to major currencies like the US dollar can impact gold pricing. In Iraq, regional stability and market demand further influence these price dynamics. In Erbil, as an example, 24-carat gold is being sold for 510,000 dinars, reflecting the premium placed on higher quality gold.
Time.news Editor: Given these fluctuations, what practical advice would you give to potential buyers looking to invest in gold at this time?
Dr. Layla Hasan: For potential buyers, my advice would be to closely monitor the market trends and pricing variations. When purchasing gold, it’s crucial to make informed decisions based on both current prices and ancient trends.It may be wise to compare prices between diffrent sellers, as goldsmith shops often have slightly varied rates. Also, consider the long-term nature of gold as an investment; while it can be volatile in the short term, it typically holds its value well over time.
Time.news Editor: That’s valuable advice! Are there specific considerations consumers shoudl keep in mind while buying gold in Iraq?
Dr.Layla Hasan: Yes, certainly. Buyers should ensure they’re aware of the karat value and the associated prices. As an example,a mithqal,which is a traditional measure in Iraq,is equal to five grams. knowing this can definitely help buyers understand the weight and fair pricing of their purchases. It’s also essential to purchase from reputable sources to avoid counterfeit products. Understanding the local market intricacies, including the variations in pricing between foreign and local gold, can also aid consumers in making wise investments.
Time.news Editor: Thank you for those insights, Dr. Hasan. As we look to the future, what are your predictions for the gold market in Iraq over the next few months?
Dr. Layla hasan: Looking ahead, I anticipate that gold prices will remain relatively stable, depending on global economic conditions and local market demand. Though, we coudl see a continued increase if inflation persists or if geopolitical tensions arise. Keeping an eye on both international market trends and local economic indicators will be critical for anyone involved in the gold trading or investment sphere.
Time.news Editor: Thank you for your time and expertise today, Dr. Hasan. Your insights are incredibly helpful for our readers who are looking to navigate the gold market in these fluctuating times.
Dr. Layla Hasan: It was my pleasure! Thank you for having me. I hope your readers can make informed decisions based on this data.