Gold prices rise in Baghdad and Erbil local markets

BAGHDAD, Iraq — Gold prices rose in the local markets of Iraq's capital Baghdad and the Kurdistan Region capital Erbil on Wednesday, with dealers tying the move to fluctuations in the US dollar. On Baghdad's Nehri Street wholesale market, the selling price of a mithqal of 21-karat Gulf, Turkish and European gold reached 970,000 Iraqi dinars, with a buying price of 966,000 dinars, up from 945,000 dinars the previous day. A mithqal of 21-karat Iraqi gold was sold for 940,000 dinars and bought for 936,000 dinars in the same market. At jewelry shops, a mithqal of 21-karat Gulf gold traded between 975,000 and 980,000 dinars, while 21-karat Iraqi gold ranged from 940,000 to 950,000 dinars. In Erbil, 22-karat gold was sold at 1,004,000 dinars per mithqal, 21-karat gold at 960,000 dinars and 18-karat gold at 822,000 dinars. The price increases coincided with currency movements on Baghdad's Kifahi and Harisiya exchanges, where 100 dollars traded at 154,650 dinars in the morning, compared with 154,400 dinars the day before.