Gold prices flat in Baghdad, edge higher in Erbil

BAGHDAD, Iraq — Gold prices were unchanged in Baghdad's local markets on Wednesday while recording a slight increase in Erbil, the capital of the Kurdistan Region, according to dealer rates from the two cities. On Baghdad's al-Nahr Street wholesale market, the selling price of a mithqal of 21-karat Gulf, Turkish and European gold stood at 950,000 Iraqi dinars and the buying price at 946,000 dinars, unchanged from the previous session. For Iraqi gold, the selling price of a 21-karat mithqal was set at 920,000 dinars and the buying price at 916,000 dinars. At jewelry shops, 21-karat Gulf gold was traded between 950,000 and 960,000 dinars per mithqal, while Iraqi gold of the same karat ranged from 920,000 to 930,000 dinars. In Erbil, the per-gram selling price rose to about 983,000 dinars for 22-karat gold, around 940,000 dinars for 21-karat gold and roughly 805,000 dinars for 18-karat gold. Local jewelers said retail gold prices are updated daily based on a calculation tied to global ounce prices and the local dollar exchange rate.