Gold prices continue to fluctuate in the Kurdistan Region and global markets as investors respond to economic uncertainty and geopolitical developments. Financial experts say ongoing tensions between major powers, including the United States and Iran, continue affecting gold prices and creating market instability.
Financial and economic experts said that the price of one mithqal of gold has fallen by around 5,000 Iraqi dinars. He explained that predicting future prices remains difficult because gold markets continue changing rapidly.
“We cannot predict what will happen when global markets reopen tomorrow,” experts said. “Gold prices continue to experience constant movements due to several factors.”
The expert explained that many banks, major companies, and governments purchased large amounts of gold during previous price declines. They said some institutions increased their gold holdings when prices dropped in March.
However, experts noted that the continuation of geopolitical tensions has changed market behavior. Some investors now need cash and have started selling part of their gold reserves. This increased supply has contributed to recent price declines.
Global market conditions have also influenced gold prices. On July 24, trading pressure in the Hong Kong stock market affected Chinese investors and created additional market uncertainty. At the same time, US interest rate decisions and monetary policy changes continue to influence gold movements.
Gold often attracts investors during periods of uncertainty because many consider it a safe asset. However, rising interest rates can reduce demand for gold because investors may seek returns from other financial instruments.
Current gold prices in the Kurdistan Region and international markets are as follows:
- One ounce of gold: $4,018
- One mithqal of 22-karat gold: 910,000 Iraqi dinars
- One mithqal of 21-karat gold: 869,000 Iraqi dinars
- One mithqal of 18-karat gold: 745,000 Iraqi dinars
Experts expect gold markets to remain sensitive to global economic developments. Changes in interest rates, currency movements, and geopolitical events will continue influencing prices in the coming period.
For traders and consumers in the Kurdistan Region, gold prices may continue to experience daily changes as international markets react to new economic and political developments.
