Silver prices continue to fall in markets across the Kurdistan Region as regional instability reduces demand for the metal. Traders say the ongoing conflict involving Iran has weakened purchasing activity, especially in cross-border trade. Currently, one kilogram of Silver sells for around $2,700 in local markets.
Economic analysts explained that this price level has rarely appeared during the past three months. However, he noted that the most unusual aspect is not only the price itself but also the narrow difference between buying and selling prices in the market.
Demand for silver has dropped significantly due to the ongoing regional conflict. As a result, silver prices have continued to decline in major Kurdistan Region markets, including Erbil, Sulaymaniyah, and Duhok.
In recent years, many residents in the Kurdistan Region purchased large amounts of silver as a form of financial security. Some people invested millions of dollars in metal and stored it in their homes as a long-term asset.
However, regional conflicts have directly affected the silver market. Before the current crisis, a significant portion of silver traded in Kurdistan markets was exported to Iran. That demand has now largely disappeared, slowing market activity.
Experts also believe that prices could fall further. Market observations from Erbil, Sulaymaniyah, as well as international trading hubs such as Dubai and Istanbul, suggest that global silver prices may continue to decline in the near future.
Another important factor is the current situation inside Iran. Internet disruptions and economic uncertainty have reduced communication between buyers and sellers. Even when potential buyers exist, many hesitate to make purchases due to financial risks and unstable market conditions.
For now, analysts expect the silver market in the Kurdistan Region to remain weak until regional stability improves and cross-border demand begins to recover.
