Gold markets across the Kurdistan Region and global trading hubs experienced a sharp rebound after a recent decline. Prices rose quickly within just one day, reflecting renewed volatility in international markets. One ounce of gold increased by $55, while one mithqal of gold rose by about 7,000 Iraqi dinars in local markets.
Economists link this sudden rise to ongoing geopolitical tensions in the region and fluctuations in the U.S. dollar. Market analysts also point to shifting political statements and reduced fears of escalation in the Gulf as key drivers behind the price movement. A recent wave of concern about a possible attack on the United Arab Emirates pushed prices up temporarily. However, once tensions eased and political statements clarified the situation, traders reacted quickly, driving prices higher again.
The economist explained that gold prices climbed significantly compared to the lowest level recorded the previous day. He stated that an ounce of gold gained $55 due to statements made by Mohammad Bagher Ghalibaf, along with the easing of fears over regional conflict. He also emphasized that the rising value of the U.S. dollar added further pressure, increasing local gold prices in dinars.
Current market data shows the following rates in the Kurdistan Region:
One ounce of gold: $4,555
One mithqal of 21-carat gold: 980,000 IQD
One mithqal of 18-carat gold: 840,000 IQD
One mithqal of 22-carat gold: 1,027,000 IQD
Experts warn that ongoing instability between Iran and Gulf countries continues to keep gold markets highly sensitive. Any political statement from Tehran or Washington can immediately shift investor behavior. Traders now watch global headlines closely, as gold continues to respond rapidly to changes in geopolitical risk and currency strength.
