Economic experts predict that the price of gold could rise by $200 per ounce before the end of this month, driven by global financial and political factors.
According to experts, international gold markets remained stable today due to the closure of global stock exchanges. However, they said recent changes in currency markets have already affected local prices.
They explained that a weakening U.S. dollar and a slight rise in the Iraqi dinar have reduced the price of one gold “mithqal” by around 3,000 dinars in local markets.
Despite short-term fluctuations, experts expect a strong upward trend in gold prices. They predict that an ounce of gold could increase by $200 by the end of the month. He also expects 21-carat gold to rise above 1.05 million Iraqi dinars per mithqal.
They linked this forecast to two major global developments. First, they pointed to ongoing tensions in U.S.–Iran relations. They said Iran has proposed 14 negotiation points, but U.S. President Donald Trump has rejected them, saying he does not agree with the terms and doubts a deal is possible.
Second, they referred to an upcoming diplomatic meeting. Trump is expected to visit China mid-month and meet Chinese President Xi Jinping. Markets often react to high-level U.S.–China talks due to their impact on global trade and economic stability.
Current market data shows gold prices remain high in both the Kurdistan Region and global markets. One ounce of gold currently stands at around $2,616.
Local prices per mithqal are as follows:
- 22-carat gold: about 1,040,000 IQD
- 21-carat gold: about 993,000 IQD
- 18-carat gold: about 851,000 IQD
- 14-carat gold: about 662,000 IQD
- 12-carat gold: about 567,000 IQD
- 9-carat gold: about 425,000 IQD
Experts say gold remains sensitive to currency movements, geopolitical tensions, and investor demand, which could drive further volatility in the coming weeks.
