Gold prices continue their downward trend in global markets this week, raising concerns among investors and traders. Economic experts believe the decline may continue in the coming weeks due to several international financial factors.
According to economic experts, gold prices have been falling steadily since the beginning of the week. They stated that the price of one ounce of gold has dropped by $154, while the price of one mithqal of gold has decreased by 51,000 Iraqi dinars during the same period.
The experts expect the downward trend to continue. They predict that the price of one ounce of gold could decline by an additional $350 in the future. Likewise, the price of one mithqal of gold may fall by another 32,000 Iraqi dinars. They noted that this decline is likely to continue for a longer period rather than being a short-term market correction.
Current gold prices in Kurdistan and global markets are as follows:
- One ounce of gold: $4,336
- One mithqal of 22-karat gold: 955,000 Iraqi dinars
- One mithqal of 21-karat gold: 912,000 Iraqi dinars
- One mithqal of 18-karat gold: 781,000 Iraqi dinars
Economic experts linked the decline in gold prices to several key economic developments. One major factor is the release of new inflation data in the United States. Market expectations suggest that the latest figures may not support higher gold prices, creating additional pressure on the precious metal.
Another important factor is the upcoming announcement of interest rates by the U.S. Federal Reserve next week. Investors remain cautious ahead of the decision, as interest rate policies often have a significant impact on gold markets. As a result, selling pressure has increased across global markets, pushing gold prices lower.
With uncertainty surrounding inflation and monetary policy, analysts expect gold prices to remain under pressure in the near term. Investors are closely monitoring economic indicators for signs of future market direction.
