Gold prices dropped again in the Kurdistan Region and global markets as uncertainty continues to affect precious metals trading. Economic analysts say shifts in U.S. monetary policy and currency movements drove this decline.
Economists reported that gold prices fell at the opening of global markets this morning. They said an ounce of gold lost about 30 dollars, while one mithqal decreased by nearly 5,000 Iraqi dinars.
Moreover, economists explained that changes in the U.S. dollar strongly influence gold prices. They said when the value of 100 U.S. dollars changes against 1,000 dinars, one mithqal of gold usually moves by 5,000 to 7,000 dinars. This direct link shows how currency performance affects gold pricing in local markets.
They also noted that global gold trading remains unstable. Prices can rise or fall quickly, sometimes by up to 30 dollars in a short time. Recent cuts in U.S. interest rates also affected investor confidence. Therefore, they added that further changes may occur soon as financial markets react to possible leadership changes at the U.S. Federal Reserve within 11 days.
In the Kurdistan Region’s markets, gold prices now stand at different levels. One ounce of gold costs 4,588 dollars. One mithqal of 22-karat gold sells for 1,030,000 dinars. Meanwhile, 21-karat gold is priced at 982,000 dinars, and 18-karat gold costs 842,000 dinars.
Market observers expect continued price fluctuations in the coming weeks. They link this expectation to ongoing global economic uncertainty and unstable currency movements that continue to shape investor decisions in gold trading markets.
