Economic experts expect gold prices to remain volatile this week. They also see strong potential for further gains when global markets reopen. Investors are closely watching reports about a possible agreement between the United States and Iran. They are also waiting for new banking and interest rate announcements.
Stock markets remain closed on Saturday and Sunday. However, reports of a possible U.S.-Iran agreement have already affected gold prices. Analysts believe gold could rise by around $20 per ounce when trading resumes. If both countries announce a confirmed agreement, the price of one ounce of gold could jump by as much as $150.
Experts are also monitoring banking and interest rate decisions that are expected on Wednesday. These announcements could strongly influence the direction of the precious metal. Analysts say higher interest rates may put pressure on gold prices. In that case, gold could lose between $300 and $400 per ounce. Higher rates often attract investors to interest-bearing assets and reduce demand for gold.
If policymakers keep rates unchanged or adopt a more supportive policy, gold could continue its upward trend. Lower borrowing costs usually increase investor interest in safe-haven assets such as gold.
Experts say the outlook for gold remains uncertain this week. Geopolitical developments and monetary policy decisions may cause sharp price swings. As a result, gold prices could move significantly higher or lower in the coming days.
Current gold prices in the Kurdistan Region and global markets are:
- One ounce of gold: $4,219
- One mithqal of 22-carat gold: 965,000 Iraqi dinars
- One mithqal of 21-carat gold: 921,000 Iraqi dinars
- One mithqal of 18-carat gold: 789,000 Iraqi dinars
- One mithqal of 14-carat gold: 613,000 Iraqi dinars
- One mithqal of 12-carat gold: 526,000 Iraqi dinars
- One mithqal of 9-carat gold: 394,000 Iraqi dinars
Investors are expected to follow developments closely this week. News from Washington and Tehran, along with interest rate decisions, will likely determine whether gold extends its gains or faces a sharp correction.
