Shafaq News – Baghdad / Erbil

Traders at Baghdad’s Al‑Nahr wholesale market and retail outlets reported a modest fall in 21‑carat gold on Tuesday, with selling prices for Gulf/Turkish/European 21ct quoted at 843,000 IQD per mithqal (≈5 g) — down from 847,000 IQD the previous day — while Erbil’s market held steady across carats. The movement narrows local spreads and alters small but tangible premiums for regional dealers and cross‑border traders.

  • Price (Baghdad): 21ct Gulf/Turkish/European — Sell 843,000 IQD / Buy 839,000 IQD per mithqal
  • Price (Iraqi 21ct): Sell 813,000 IQD / Buy 809,000 IQD per mithqal
  • Retail ranges (Baghdad): Gulf 21ct 845,000–855,000 IQD; Iraqi 21ct 815,000–825,000 IQD
  • Erbil (stable): 22ct 883,000 IQD; 21ct 843,000 IQD; 18ct 723,000 IQD per mithqal
  • Date / Source: Tuesday, reported by Shafaq News (Al‑Nahr market survey)

The Context

The change is subtle in absolute terms but instructive in 2025’s market environment. Global spot gold remains the benchmark, yet regional micro‑markets — Baghdad’s wholesale rows and Erbil’s Kurdish trade hubs — price on local liquidity, currency dynamics and buyer mix. The metal’s warm, metallic heft and pale, vitreous luster are unchanged; what shifts are the premiums attached to provenance and supply‑chain assurance.

Two 2025 trends are visible here. First, buyers increasingly prize certified recycled and chain‑of‑custody gold, which can carry a premium in transparent markets. Second, fragmentation of regional pricing — a steady Erbil versus a softer Baghdad — reflects divergent local demand and FX pressure rather than a change in bullion fundamentals.

The Impact for US Retailers and Investors

For a US jeweller or bullion investor, these developments matter in three practical ways. Narrowing spreads in Baghdad compress margin on local arbitrage: the difference between wholesale quotes and retail offers (845,000–855,000 IQD) is where dealers capture revenue and where hedging decisions are made. Second, a stable Erbil price suggests pockets of liquidity that can be tapped for consistent supply, subject to due‑diligence on provenance and transport logistics.

Finally, sourcing strategy should account for 2025’s sustainability premiums. US buyers paying for physical gold — whether for inventory or investment — will increasingly weigh chain‑of‑custody certification and recycled content alongside IQD price movements. Practically: expect small, frequent price shifts from regional markets; price inventory to absorb a modest premium for certified supply; and monitor currency dynamics that can widen local spreads quicker than global spot moves.

In short: Tuesday’s small slip in Baghdad and steady Erbil are not a signal of systemic change to bullion’s long‑term value, but they are a reminder that regional premiums and provenance are now part of the pricing calculus for dealers and investors operating between the US and Iraq.

Image Referance: https://shafaq.com/en/Economy/Gold-prices-ease-in-Baghdad-hold-steady-in-Erbil-3