Gold prices in Iraq’s key markets of Baghdad and Erbil retreated on Tuesday, tracking a broader sell-off in global precious metals.
Local dealers reported spot rates hovering around 900,000 Iraqi dinars per mithqal, reflecting the downward pressure seen in international benchmarks.
The decline in Iraqi markets mirrors losses recorded elsewhere in the region.
Recent data from Pakistan showed gold prices dropping sharply, falling by Rs10,400 per tola in line with international trends.
This regional synchronization suggests that local currency dynamics are currently secondary to the global price action driving the commodity lower.
The pullback in gold is part of a wider market rotation.