Gold and silver prices have shown sharp volatility in recent hours, driven by rising tensions involving Iran and statements made by Donald Trump. In Erbil’s market, one mithqal of gold currently sells for around 970,000 Iraqi dinars after experiencing rapid fluctuations.
The market reacted strongly after Trump posted comments about halting attacks on Iran’s economic infrastructure. Within just 24 hours, gold prices moved significantly. Yesterday, the price of one mithqal dropped from 988,000 dinars to 920,000 dinars, marking a swing of about 65,000 dinars in a short period. Prices then rebounded again today, highlighting the unstable nature of the market.
Economic experts explained that gold prices quickly surged again after Trump’s remarks. Within hours, the price climbed back above 980,000 dinars before settling near 970,000 dinars. They noted that the market continues to react instantly to political developments and investor sentiment.
On global markets, gold prices also fluctuated sharply. The price per ounce dropped below $4,150 after reaching as high as $4,435 earlier during market opening. Analysts say this wide range reflects strong uncertainty and rapid shifts in demand.
Economic experts added that fears of further declines still dominate the market. Key price levels between $4,390 and $3,900 have already been tested, and although prices have slightly recovered, markets remain under pressure.
Gold and silver trends continue to move unpredictably as investors respond to global risks. Silver prices, on the other hand, recorded a notable increase. The price per ounce rose above $69, returning to levels seen at the start of the week. This marks a significant jump of more than $8 compared to yesterday.
Globally, silver prices climbed to around $2,450 per kilogram after dropping to nearly $2,100 the previous day. In Dubai markets, prices had fallen to about $1,950 per kilogram before rebounding, reflecting the same pattern of instability seen in gold and silver markets.
