Gold prices have dropped again in markets across Erbil, Sulaymaniyah, and Duhok. In recent days, the price of one ounce of gold fell by $90. Experts link the decline to changes in the dollar’s value.
Safin Warti, a member of the Erbil Goldsmiths Syndicate, confirmed the drop. He said the decrease began on July 23, 2025, and continued until today. During this period, the price of one mithqal of gold also fell by $13.
Current prices in local markets are as follows:
- One mithqal of 22-carat gold costs 683,000 dinars
- One mithqal of 21-carat gold costs 652,000 dinars
- One mithqal of 18-carat gold costs 558,000 dinars
- One ounce of gold stands at $3,337
This drop impacts both gold buyers and sellers throughout the Kurdistan Region. Dealers are monitoring exchange rates closely, since every movement in the dollar immediately affects gold prices.
As demand shifts and the dollar fluctuates, market prices continue to change rapidly. The gold sector remains one of the most sensitive to currency changes.