Gold prices in the markets continue to rise steadily. Members of Erbil’s goldsmiths’ union say the increase comes from higher demand, as countries are actively buying gold.
Safin Warti, a member of the Erbil Goldsmiths’ Union, said that compared to Friday evening, the price of one ounce of gold reached $61 today. The price per mesqal of gold also increased to 13,000 dinars.
The union member explained that this rise is largely due to strong demand from both domestic and international buyers. Countries and investors are purchasing gold to secure assets, which drives prices higher in local markets.
Current market prices for gold in Erbil are as follows: one mesqal of 22-karat gold costs 838,000 dinars, one mesqal of 21-karat gold is 800,000 dinars, and one mesqal of 18-karat gold reaches 685,000 dinars.
In addition, one ounce of gold is currently traded at $3,947, reflecting ongoing confidence in gold as a safe investment. Traders report that buying and selling activities remain active, especially for high-purity gold, indicating continued upward pressure on prices.
Analysts suggest that as global and regional demand for gold remains high, local market prices may continue their steady climb.
Gold’s rising value provides both a profitable opportunity for traders and a reliable store of wealth for investors and citizens.