Gold prices climb in Baghdad, imported quarter dinar exceeds key threshold

BAGHDAD, Iraq — Gold prices rose across Baghdad's markets on Sunday, with imported gold surpassing one million dinar per miskal in wholesale trading. On the capital's Nehr Street wholesale market, the selling price of one miskal of 21-karat imported gold reached 1.012 million Iraqi dinars, up from 1.006 million dinars the previous trading day. The buying price for the same product climbed to 1.008 million dinars. In the same market, one miskal of 21-karat Iraqi gold was sold for 982,000 dinars, with a buying price of 978,000 dinars. Retail prices at jewelry shops and storefronts traded higher, ranging from 1.015 million to 1.025 million dinars per miskal for 21-karat imported gold, and from 985,000 to 995,000 dinars per miskal for 21-karat Iraqi gold. The increases applied to both imported and locally produced gold compared with the previous session. A miskal is a traditional unit of weight commonly used for gold and other precious metals in the region. No official statement from Iraqi monetary authorities on the price movement was immediately available.