Gold prices ease slightly in Baghdad amid global record rally

BAGHDAD, Iraq — Gold prices in Baghdad's local market eased slightly on Thursday, June 18, with 21-karat imported Gulf gold quoted at 935,000–945,000 Iraqi dinars for sale. Local 21-karat gold was priced at 905,000 dinars to buy and 900,000 dinars to sell, according to market figures from the same day. Jewelers said retail prices track market conditions and exchange rate movements. The modest pullback in the local market came as global gold prices climbed to fresh records. The rally has been supported by growing expectations that the U.S. Federal Reserve will cut interest rates in September, with stronger investor confidence and economic uncertainty driving demand for the metal. Analysts cited by the market note that any U.S. rate reduction would continue to add upward pressure on gold prices, even as local quotations reflect short-term moves in the Iraqi dinar exchange rate. No further trading details were immediately available.