2023-12-02T07:58:50+00:00
A-
A
A+
/ 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, Saturday (December 2, 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 450 thousand dinars, and the purchase price at 446 thousand dinars.
Our correspondent indicated that the selling price of one mithqal of 21 carat Iraqi gold was recorded at 420 thousand dinars, and the purchase price reached 416 thousand.
Regarding gold prices in goldsmiths’ shops, the selling price of a 21-karat Gulf gold mithqal ranges between 455,000 and 465,000 dinars, while the selling price of an Iraqi gold mithqal ranged between 425,000 and 435,000 dinars.
As for gold prices in Erbil, the selling price of 24 karat gold was recorded at 520 thousand dinars, 22 karat was sold at 480 thousand dinars, 21 karat was sold at 460 thousand dinars, and 18 karat was sold at 400 thousand dinars.
What factors are contributing to the rise in gold prices in iraq?
Interview with Gold Market Expert: Insights on Rising Gold Prices in Iraq
Editor: Welcome to Time.news! today, we’re discussing the recent surge in gold prices in Iraq, notably in Baghdad and Erbil. With us is Dr. Nadia Al-Hussein,a noted expert in precious metals and market trends. Thank you for joining us, Dr. Al-Hussein.
Dr. Nadia Al-Hussein: Thank you for having me. It’s great to be here to discuss such an important topic.
Editor: Let’s dive right in. According to recent reports,gold prices have risen significantly in both Baghdad and Erbil. Can you break down the current prices for us?
Dr. Nadia Al-Hussein: Certainly! As of December 2,2023,we see that the prices for 21-carat gulf,Turkish,and European gold in Baghdad have reached approximately 450,000 dinars per mithqal,with a purchase price around 446,000 dinars. In comparison, iraqi 21-carat gold is slightly lower at about 420,000 dinars for selling and 416,000 dinars for purchasing.
Editor: Those numbers certainly reflect a notable increase. What do you think is driving this rise in gold prices in Iraq?
Dr. Nadia Al-Hussein: The rise can be attributed to a mix of local and global factors.Economically, gold is often seen as a safe haven during times of uncertainty. With ongoing geopolitical tensions and shifts in the global economy, people are turning to gold as a secure investment.additionally, local demand has increased due to cultural practices surrounding gold purchases, particularly during festive seasons.
Editor: Speaking of local demand, how do the prices in Erbil compare to those in Baghdad?
Dr. nadia Al-Hussein: In Erbil, the prices for 24-carat gold are recorded at around 520,000 dinars, while 22-carat gold is at 480,000 dinars. The 21-carat is priced at 460,000 dinars, and 18-carat gold is at 400,000 dinars. You can see that Erbil generally has higher gold prices compared to Baghdad,which may be due to factors like local purchasing power and regional economic conditions.
Editor: That makes sense. For someone looking to invest in gold right now, what practical advice would you give, considering these trends?
Dr.Nadia Al-Hussein: First and foremost, potential investors should stay informed about market trends and price fluctuations.If you’re considering purchasing gold, it might be wise to do so in bulk, as wholesale prices can offer some savings compared to retail. Additionally, understanding the type of gold you want—whether it’s an investment in bullion or jewelry—can help in making a more informed decision.
Editor: Great tips,Dr. Al-Hussein! As a final question, what implications do you foresee for the gold market in Iraq in the coming months?
Dr. Nadia Al-Hussein: I expect continued volatility in gold prices, largely influenced by global economic conditions and local demand trends. As long as there are uncertainties, both domestically and internationally, gold will likely remain a popular investment choice. It’s crucial for both consumers and investors to keep a close eye on these dynamics.
Editor: Thank you for your valuable insights, Dr. Al-Hussein. As gold prices continue to fluctuate, it’s clear that staying informed will be key for anyone involved in the market.
Dr. Nadia Al-Hussein: Thank you for having me. It was a pleasure to discuss these important trends with you.
Editor: And thank you to our readers for tuning in! We hope this interview provides you with the insights needed to navigate the changing landscape of gold prices in Iraq.