Gold Prices Fall in Iraq as Baghdad Markets Open the Week Lower

Gold prices in Iraq opened the new week lower, with Baghdad markets setting the sale price of a mithkal of 21-carat Iraqi gold at 940,000 dinars and the buying price at 935,000 dinars on Saturday, 23 May. The decline comes as traders track shifts in both local market pricing and global bullion trends. In jewelry shops, the sale price of Gulf gold for a 21-carat mithkal ranged between 970,000 and 980,000 dinars. The figures reflect retail pricing in Baghdad’s gold markets at the start of the week. Global gold prices, meanwhile, have reached historic highs amid expectations that the US Federal Reserve will cut interest rates in September. Rising geopolitical uncertainty has also added support to bullion markets.