Shafaq News/Economic expert Mohammed Al-Hassani forecasted that gold prices could rise to600,000 dinars per mithqal (equal to five grams) by 2025.
In aninterview with Shafaq News Agency, Al-Hassani explained, "Local goldprices are expected to continue rising due to the persistent increase in globalgold markets and growing fears of an economic recession in the United States,which strengthens gold as a haven."
"Thisconcern coincides with a decline in the dollar index and falling global stockmarkets," Al-Hassani noted that temporary declines in gold prices areoften due to investors selling off their holdings.
The expertalso pointed out that jewelers in Iraq advertise attractive prices tocustomers. Still, in reality, they add high crafting fees to the gold, reachingover 80,000 dinars per mithqal, which is often unknown to buyers.
Gold pricesin Iraq are determined by jewelers based on global market trends and localdollar prices.