Baghdad Gold Prices Rise Amid Global Market Gains

BAGHDAD, Iraq — Gold prices in Baghdad's local markets recorded updates on Tuesday, with 21-karat local gold selling at 910,000 dinars per miscal and buying at 905,000 dinars. In jewelry shops, 21-karat Gulf-origin gold traded between 940,000 and 950,000 dinars per miscal. The domestic price changes followed upward movement in global markets. Analysts pointed to expectations that the U.S. Federal Reserve would cut interest rates in September, alongside growing geopolitical uncertainty, as factors supporting higher gold prices internationally. Investor confidence has strengthened in recent sessions, contributing to the rise in international gold quotations. Market observers said the combination of monetary policy expectations and regional tensions has increased demand for the precious metal.