Baghdad 21-carat gold drops below 1 million dinars

BAGHDAD, Iraq — Gold prices were updated in Baghdad on Sunday, May 31, 2026, with the selling price of one miskal of 21-carat Iraqi gold recorded at 960,000 dinars and the buying price at 955,000 dinars. At jewelry shops, 21-carat Gulf gold was sold for between 985,000 and 995,000 dinars. Global gold prices continued to rise to record levels, driven by investor expectations that the U.S. Federal Reserve will cut interest rates in September and by global economic and geopolitical uncertainty.