Gold prices fall in Baghdad and Erbil wholesale markets

BAGHDAD, Iraq — Gold prices declined Wednesday in Iraq's capital and in the Kurdistan Region's administrative center, Erbil, according to local market reporting. On Baghdad's al-Nahr Street wholesale market, 21-karat gold of Gulf, Turkish and European origin was quoted at 955,000 dinars per mesghal on the sell side and 951,000 dinars on the buy side, down from 960,000 dinars a day earlier. Iraqi 21-karat gold was priced at 925,000 dinars per mesghal to sell and 921,000 dinars to buy on the same market. At jewelry shops, Gulf-origin 21-karat gold traded between 955,000 and 965,000 dinars per mesghal, while Iraqi 21-karat gold ranged from 925,000 to 935,000 dinars. In Erbil, where prices also slipped, 22-karat gram gold sold for about 983,000 dinars, 21-karat at 940,000 dinars and 18-karat at 805,000 dinars. The price of 21-karat gold per mesghal had crossed the 1 million dinar mark for the first time on January 21, 2026. Jewelry dealers set prices based on the international ounce price and the local dollar exchange rate, the report added.