Today, Friday, November 6, 2026, gold prices in Iraq witnessed a slight decline, but they continued to stabilize near their highest levels in two weeks. This calm comes in light of the weekend and the cessation of trading in the wholesale markets in the capital, Baghdad, affected by the limited changes in the global price of the ounce.
In details of the prices recorded in Baghdad, the average selling price of 21 carat gold mithqal (for Gulf, Turkish and European types) was about 970 thousand dinars, compared to 966 thousand dinars for purchase. In contrast, the weight of Iraqi gold recorded about 940 thousand dinars for sale and 936 thousand dinars for purchase. The selling price of a Gulf gold weight in goldsmiths’ shops ranged between 979 and 980 thousand dinars, while the Iraqi price ranged between 940 and 950 thousand dinars.
As for Erbil, the price of 21 karat gold was recorded at about 988 thousand dinars for sale, the price of 22 karat gold was about 1 million and 34 thousand dinars, while the price of 18 karat gold was about 846 thousand dinars. These prices are still below the barrier of 990 thousand dinars per 21-carat mithqal, which was recorded at the beginning of trading last October 19, before it decreased in conjunction with the decline of the ounce to its lowest level in a year.
In terms of the prices of various calibers in Baghdad, a 24-carat gram recorded about 221,700 dinars (equivalent to about 132 dollars), a 22-karat gram recorded about 203,200 dinars (equivalent to about 121 dollars), a 21-karat gram recorded about 194,000 dinars (equivalent to about 115 dollars), while an 18-karat one recorded about 166,300 dinars (equivalent to about 99 dollars), and a 14-carat caliber amounted to about 129,300 dinars (equivalent to about 77 dollars).
Globally, an ounce of gold is trading in spot transactions around the level of $4,050, after witnessing a jump yesterday that exceeded the $4,100 barrier, supported by the decline of the US dollar to its lowest level in a month following the US midterm elections, in addition to the decline in oil prices, which contributed to alleviating inflation fears.
Technical forecasts indicate the possibility of the price of a 21-carat mithqal in Baghdad moving within a range between 950 and 970 thousand dinars when trading resumes next Sunday, with the possibility of a decline remaining if the ounce stabilizes near the $4,050 level or the dollar returns to the rise, in exchange for opportunities to achieve new gains if the ounce returns to test the $4,100 level.
The local market in Iraq is cautiously awaiting the release of the US non-farm payrolls report, at a time when the markets are quoting about 83% probability that the US Federal Reserve will raise interest rates next December, in addition to monitoring the movements of bond yields, which remain the most influential factor on the movement of the ounce globally.
