Gold prices in Iraq’s key markets of Baghdad and Erbil have retreated, hovering around 890,000 Iraqi dinars per mithqal on Saturday.
The decline reflects a broader pullback in global precious metals, with local dealers adjusting spot rates in line with international trends.
This move follows a similar retreat earlier in the week, when prices in Baghdad and Erbil had already softened to approximately 900,000 IQD per mithqal on Tuesday.
The sustained downward pressure indicates that the recent sell-off in global gold markets is having a persistent impact on regional pricing.
The weakness in Iraq mirrors developments in other emerging markets.
In Pakistan, gold prices fell sharply on Tuesday, dropping by Rs10,400 per tola as local markets mirrored the significant downturn in international precious metals.