Gold prices have fallen over the past two days in both global markets and the Kurdistan Region. Economic experts link this decline mainly to expectations around U.S. interest rate policies, which continue to influence global gold trading.
Economic experts say that the price of one ounce of gold dropped by about $10 today. However, they noted that the local price of a gold mithqal remains stable and has not changed significantly in recent days.
Despite the short-term decline, market data shows gold prices remain at high levels. One ounce of gold is currently priced at around $4,585 in global and regional markets.
Local gold prices in the Kurdistan Region vary depending on purity. A 22-karat mithqal of gold costs about 1,037,000 Iraqi dinars. A 21-karat mithqal is priced at 990,000 dinars, while 18-karat gold stands at 848,000 dinars.
Lower purity levels are cheaper. A 14-karat mithqal costs around 660,000 dinars, a 12-karat one is 565,000 dinars, and 9-karat gold is priced at approximately 424,000 dinars.
They also explained that two key factors will determine future price movements. The first is the U.S. interest rate policy, which strongly affects global investment demand for gold. The second is geopolitical stability, especially developments related to regional conflicts.
They said that if U.S. interest rates remain unchanged and tensions between Iran and other countries do not escalate, gold could rise significantly. In that case, the price of one ounce may increase by up to $250.
However, they warned that if financial conditions tighten or global risks decrease, gold prices could continue to fall.
Gold remains one of the most closely watched assets in global markets, especially during periods of economic uncertainty. Investors in the Kurdistan Region continue to monitor international developments closely, as even small global changes directly affect local prices.
