Gold prices in the Kurdistan Region have remained stable, reflecting the unchanged dollar rate in local markets. Despite fluctuations in global financial trends, the regional gold trade has shown consistency throughout the week.
According to gold traders, gold prices do not shift unless the dollar exchange rate changes. Over recent days, the market has not recorded any significant movement in currency value. Because of this, buyers and sellers in the Kurdistan Region have witnessed little difference in the gold pricing.
Safin Warti, a member of the Erbil Goldsmiths Syndicate, confirmed the status quo in a recent statement. He noted that gold prices remain steady, as international gold exchanges closed for the weekend. Without an active global market, local prices tend to follow previous benchmarks unless driven by dollar fluctuations.
He explained that the global market only affects local gold prices when the dollar moves sharply. In the past week, the dollar stayed stable across markets in Erbil, Sulaimani, and Duhok. As a result, local traders and buyers faced no surprises when checking gold prices.
The gold prices in the Kurdistan Region markets currently reflect this currency stability. One ounce of gold stands at $2,355. Meanwhile, one mithqal—equal to five grams—of 22-carat gold is 696,000 Iraqi dinars. Traders sell 21-carat gold for 665,000 dinars per mithqal. For those preferring lighter purity, 18-carat gold is available at 570,000 dinars per mithqal.
These price points remain consistent across most major cities in the Region. Jewelry shops in Erbil, for example, have not altered their listed prices. The same trend extends to smaller towns where gold trades still follow Erbil’s rates.
Traders emphasized that, unless the dollar rises or falls sharply, gold prices will not see any changes. The correlation between gold prices and the dollar rate continues to dominate the market’s behavior. Any upcoming shifts in global or regional currency exchange will likely determine the next price adjustment.
For now, both customers and shop owners expect continued price stability. The gold price trend will probably remain tied to the dollar rate unless unexpected economic shifts take place.