Gold prices in Kurdistan have jumped sharply over the past two days. According to Hendren Werti, head of the Erbil Goldsmiths’ Union, the price of gold has increased by $30 per ounce and 9,000 dinars per methqal since Tuesday.
Werti said that, “We cannot predict gold prices as they are constantly changing. Both the U.S. and China have a direct impact on these rates.” This shows how global markets influence local gold prices.
As of today, gold prices are:
- 1 ounce of gold: $4,930
- 1 methqal, 22-carat: 1,114,000 dinars
- 1 methqal, 21-carat: 1,064,000 dinars
- 1 methqal, 18-carat: 911,000 dinars
Dr. Mustafa Mala Hassan, an economic expert, noted that compared to the end of last month, the price of 1 methqal has risen by 180,000 dinars.
The recent surge provides a good opportunity for investors. In some countries, people are cautious about buying gold. However, for those with extra funds, investing in gold can help protect capital against inflation. Gold remains a safe asset and a reliable hedge for long-term security.
The gold price rise in Kurdistan reflects both local demand and global market trends. Policies in the U.S. and China, currency changes, and international investment flows all impact the gold rate. Local traders and buyers should follow these trends closely to make informed decisions.
In summary, while gold prices are unpredictable, the recent $30 per ounce increase shows strong market momentum. Investors looking to secure and grow their capital may find this period favorable for gold investment in Kurdistan.
