Gold stabilizes in Baghdad, records downward trend in Erbil
Our correspondent reported that gold prices in Baghdad’s Al-Nahr Street recorded, this morning, a selling price per mithqal (equals five grams) for 21-carat Gulf, Turkish, and European gold of 452,000 IQD, with a buying price of 448,000 IQD.
The selling price per mithqal of 21-carat Iraqi gold reached 422,000 IQD, while the buying price was 418,000 IQD.
Jewelry shops in Baghdad registered a selling price for 21-carat Gulf gold of 455,000 - 466,000 IQD, while the selling price per mithqal of Iraqi gold recorded 425,000 - 435,000 IQD.
In Erbil, 24-carat gold was sold at 525,000 IQD, 21-carat gold at 460,000 IQD, and 18-carat gold at 395,000 IQD.
According to Reuters, global gold prices edged lower on Thursday as the US dollar gained, though bullion remained near record-high levels as traders awaited more economic data out of the US that could steer hopes for a mid-year rate cut by the Federal Reserve.
Spot gold fell 0.2% to $2,171.05 per ounce. US gold futures also dipped 0.2% to $2,175.40.