Iraqi Gold Prices Surge Amid Global Market Rally

Gold prices in Baghdad markets closed the week with significant gains, tracking a broader upward trend in global precious metal values. Local 21-karat Iraqi gold reached a selling price of 940,000 dinars per mithqal, with a buying price of 936,000 dinars. Retail prices for 21-karat Gulf gold in local jewelry markets fluctuated between 970,000 and 980,000 dinars per mithqal. These domestic figures reflect the ongoing appreciation of gold in international markets. Global gold prices continue to hit record highs as investors anticipate a potential interest rate cut by the U.S. Federal Reserve in September. Market sentiment remains heavily influenced by these monetary policy expectations. Persistent economic and geopolitical uncertainties are further driving the global demand for gold as a safe-haven asset. These international factors remain the primary catalysts for the current price volatility observed in Iraqi markets.