Gold prices in Iraq’s primary markets of Baghdad and Erbil have stabilized, hovering near 900,000 Iraqi dinars (IQD) per mithqal on Thursday.
The stabilization follows a period of volatility, with local dealers reporting steady demand as the precious metal holds its recent gains.
The sustained high prices reflect broader global sentiment shifts, with the World Gold Council recently raising its 2026 target to $4,100 as investor appetite for safe-haven assets grows.
This marks a continuation of the upward trend seen earlier in the week, when prices in northern Iraq surged to 869,000 IQD per mithqal for 21-carat bars on Monday.
The price jump in Erbil contrasts sharply with conditions in Baghdad, where prices had been more subdued, but the two markets are now converging at the higher level.
The sustained high prices reflect broader global sentiment shifts, with the World Gold Council recently raising its 2026 target to $4,100 as investor appetite for safe-haven assets grows.
Local traders indicate that the stability is driven by consistent buying interest from both retail investors and institutional buyers, who are hedging against currency fluctuations and geopolitical uncertainties in the region.