2023-11-30T08:50:34+00:00
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Foreign and Iraqi gold prices stabilized in the local markets in the capital, Baghdad, while they rose in Erbil, the capital of the Kurdistan Region, today, Thursday.
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 weight of 21 karat Gulf, Turkish and European gold at 447 thousand dinars, and the purchase price at 443 thousand dinars.
Regarding retail gold prices in goldsmiths’ shops,the selling price of a 21-carat Gulf gold mithqal ranges between 450,000 and 460,000 dinars,while the selling price of an Iraqi gold mithqal ranged between 420,000 and 430,000 dinars.
As for gold prices in Erbil, the selling price of 24 karat gold was recorded at 515 thousand dinars, 22 karat was sold at 475 thousand dinars, 21 karat was sold at 455 thousand dinars, and 18 karat was sold at 395 thousand dinars.
What factors are influencing the recent stabilization of gold prices in Baghdad compared to the rising prices in Erbil?
Interview with Gold Market Expert: Insights on Recent Trends in Iraqi Gold Prices
Editor, time.news: Today we have the pleasure of speaking with Dr. Nadia Al-Rahman, a renowned expert in precious metals and economic trends in Iraq, to discuss the recent stabilization of gold prices in Baghdad and their rise in Erbil. Thank you for joining us, dr. Al-Rahman.
Dr. Nadia Al-Rahman: Thank you for having me. It’s great to be here.
Editor: Let’s dive into the current gold market dynamics. We’ve seen that gold prices in Baghdad have stabilized while they’ve risen in Erbil. What do you think are the main reasons for this divergence?
Dr. Al-Rahman: The stabilization of gold prices in Baghdad reflects a balance in supply and demand within the local markets, particularly after fluctuations in recent months. In contrast, Erbil has experienced an increase in demand, likely driven by local economic factors, cultural traditions, and perhaps even investment strategies aiming to hedge against inflation or currency risks.
Editor: That’s engaging.For our readers who might not be familiar, can you break down the current gold prices for both wholesale and retail in Baghdad?
Dr. Al-rahman: Of course. As of today, the wholesale price for one weight of 21 karat Gulf, Turkish, and European gold in Baghdad is selling for about 447,000 dinars, with a purchase price slightly lower at 443,000 dinars. Simultaneously occurring, in retail shops, the selling prices for 21-carat Gulf gold mithqal range from 450,000 to 460,000 dinars, while Iraqi gold mithqal sells between 420,000 and 430,000 dinars.
Editor: it’s crucial for buyers to understand these prices.Now, I noticed that Erbil’s gold prices for 24 karat gold hit 515,000 dinars. What do you think this means for consumers in the Kurdistan Region?
Dr. al-Rahman: the rise in gold prices in Erbil,particularly for higher karats,reflects a robust demand for luxury goods and a potential increase in disposable income in that region. Consumers might see this as an investment opportunity in a volatile economic climate. However, it can also signal that gold is being viewed more as a safeguard against inflation.
Editor: It sounds like a strategic investment for many. For readers considering purchasing gold, whether in Baghdad or erbil, what practical advice would you offer?
Dr. Al-Rahman: First,I would recommend understanding the difference between karats,as it impacts quality and price. It’s also wise to shop around and compare prices among different sellers to ensure you’re getting the best value. Lastly, keeping an eye on market trends—like economic reports and currency fluctuations—can help consumers make informed decisions about when to buy.
Editor: so, staying informed is key. As we wrap up, how do you see the future of gold prices in Iraq evolving over the next few months?
Dr. Al-Rahman: Gold prices will likely continue to fluctuate based on global economic trends, regional demand, and local market conditions. If the economic situation improves and consumer confidence rises, we may see a stabilization or even a decline in prices.However,in times of uncertainty,gold typically retains its value and can rise.
Editor: Thank you for these insights, Dr. Al-Rahman.Your expertise is invaluable for our readers who are navigating the gold market in iraq.
Dr. Al-Rahman: Thank you for having me. it’s been a pleasure discussing these important topics with you.