Shafaq News / Gold prices dropped on Monday in Baghdad and Erbil.
Our correspondent reported that gold prices in Baghdad's Al-Nahr Street recorded a selling price per mithqal (equal to five grams) for 21-carat Gulf, Turkish, and European gold of 444,000 IQD, with a buying price of 440,000 IQD.
The selling price per mithqal of 21-carat Iraqi gold reached 414,000 IQD, while the buying price amounted to 410,000 IQD.
A mithqal of 21-carat Gulf gold selling prices ranged between 445,000 and 455,000 IQD in jewelry stores, while the selling price of Iraqi gold ranged between 415,000 and 425,000 IQD per mithqal.
In Erbil, the selling price per mithqal of 24-carat gold was 518,000 IQD, 453,000 IQD for 21-carat gold, and 388,000 IQD for 18-carat gold.
Global gold prices rose on Monday as renewed bets that the US Federal Reserve would begin cutting interest rates in June and a softer dollar lifted bullion's appeal.
Spot gold was up 0.4% at $2,172.09 per ounce. US gold futures climbed 0.6% to $2,173.40 per ounce, as reported by Reuters.
Spot silver gained 0.2% to $24.71 per ounce, platinum rose 1% to $902.60 and palladium climbed 1.4% to $999.79.