Gold prices in the Kurdistan Region and global markets continue to rise sharply. Economic experts link this increase to expectations of a U.S. Federal Reserve interest rate cut. Analysts warn that gold prices may stay high as global uncertainty continues.
Safin Warti, a member of the Erbil Goldsmiths’ Syndicate, said: “Today, with the reopening of the markets, one ounce of gold reached $5,555, and one mithqal of 22-karat gold rose to 1,235,000 Iraqi dinars. Meanwhile, one mithqal of 21-karat gold reached 1,180,000 IQD, and one mithqal of 18-karat gold reached 1,010,000 IQD.”
Gold Prices in Kurdistan and Global Markets:
- One ounce of gold: $5,555
- One mithqal of 22-karat gold: 1,235,000 IQD
- One mithqal of 21-karat gold: 1,180,000 IQD
- One mithqal of 18-karat gold: 1,010,000 IQD
Economic experts say several factors are driving gold prices higher. First, expectations that the U.S. Federal Reserve might cut interest rates influenced gold prices. Although the rate reduction was limited, comments by Fed Chair Jerome Powell pushed prices upward.
Second, international factors also played a role. Statements by U.S. President Donald Trump caused the dollar to strengthen. This increase in the dollar further boosted gold prices globally. In addition, Trump’s threats to impose customs duties on European, Canadian, and South Korean imports raised market uncertainty.
Third, strong global demand for gold from central banks continues to support higher prices. Finally, geopolitical tensions in several regions add pressure to gold markets, keeping gold prices high.
Experts warn that gold prices in Kurdistan and global markets may continue to rise in the coming weeks. Traders and investors are closely monitoring U.S. economic decisions and international developments. Market watchers recommend following the trends in both the Kurdistan Region and global markets for timely investment decisions.
