The prices of Iraqi and foreign gold decreased today, Tuesday, in local markets in the capital Baghdad and Erbil, coinciding with a drop in the prices of the precious metal in local dealings, according to a reporter from the Video News Agency.
In Baghdad, the selling price of one mithqal of 21-carat Gulf, Turkish, and European gold was 945,000 dinars, compared to 941,000 dinars for buying, down from 953,000 dinars recorded yesterday, Monday.
As for Iraqi 21-carat gold, the selling price reached 915,000 dinars per mithqal, while the buying price was 911,000 dinars.
In jewelry shops, the selling price of one mithqal of Gulf 21-carat gold ranged between 945,000 and 955,000 dinars, while the selling price of Iraqi gold ranged between 915,000 and 925,000 dinars.
In Erbil, gold prices also recorded a drop, with the selling price of 22-carat gold per gram reaching about 986,000 dinars, while 21-carat gold was around 942,000 dinars, and 18-carat gold about 807,000 dinars.
The local pricing of gold depends on a formula that is primarily linked to the global price of the ounce and the local dollar exchange rate, which makes local prices subject to change according to global market movements and the exchange rate.