The price of the weight of gold in Iraq opened trading today, Wednesday, October 28, 2026, at its highest levels since last Friday, driven by the movements of the precious metal in global markets, coinciding with the markets’ anticipation of the US Federal Reserve’s statement regarding interest rates.
In the details of local prices, a gram of 21 carat gold recorded about 173,117 dinars (equivalent to 114 dollars), amid expectations of maintaining its trading above the 170,000 dinars barrier, supported by the dollar’s gains on the black market, despite the stagnation of local demand and the fluctuations of the global ounce.
In terms of different calibers, the price of a gram of 24 karat gold was about 197,848 dinars ($131), while the price of 22 karat gold was about 181,361 dinars ($120), while the price of 18 karat gold was about 148,386 dinars ($98).
As for gold pounds, the 21-karat pound reached about 1,661,924 dinars ($1,097), the 22-karat pound reached about 1,741,063 dinars ($1,150), while the price of the 24-karat pound reached 1,899,342 dinars ($1,254). In the bullion sector, the price of a 1-gram gold bullion reached 217,633 dinars ($144), a 2.5-gram bullion reached about 519,351 dinars ($343), while a 5-gram bullion settled at 1,028,810 dinars (about $680).
Globally, gold prices moved in a horizontal range, recording about $4,000 per ounce, as investors awaited the decision of the US Federal Open Market Committee amid expectations of stabilizing interest rates, and despite concerns related to inflationary pressures and rising fuel prices in the United States.
An ounce of gold in spot transactions recorded about $4,062, while futures contracts for December delivery reached about $4,076. In the relevant energy markets, oil prices stabilized above $100 per barrel, affected by escalating geopolitical tensions in the Gulf and fears of disruption to Middle Eastern supplies.
Expectations indicate that the Federal Reserve will stabilize interest rates during this month’s meeting, while inflationary fears push investors to bet on the possibility of raising interest rates in December and the continuation of tight monetary policy throughout 2027.
