Gold prices rise in Baghdad and Erbil wholesale markets

BAGHDAD, Iraq — Gold prices climbed in wholesale markets in Baghdad and Erbil on Wednesday morning, according to a local correspondent tracking the trades. On Baghdad's Nahr Street, 21-karat gold of Gulf, Turkish and European origin was sold at 957,000 Iraqi dinars per miskal and bought at 953,000 dinars, while locally produced 21-karat gold traded at 927,000 dinars on sale and 923,000 dinars on purchase. In the capital's jewelry shops, 21-karat Gulf-origin gold ranged from 960,000 to 970,000 dinars per miskal, with locally produced gold priced between 930,000 and 940,000 dinars. In Erbil, the capital of the Kurdistan Region, 22-karat gold sold at 988,000 dinars per miskal, 21-karat at 945,000 dinars and 18-karat at 810,000 dinars. Jewelry traders set prices based on a calculation tied to the global ounce price and the local dollar exchange rate.