Gold prices rose sharply across the Kurdistan Region on Tuesday. The increase pushed 21-karat gold above one million dinars once again. The rebound followed several days of decline and surprised many traders.
Early trading showed strong momentum. As soon as markets opened in Erbil, prices jumped. Dealers reported heavy interest from buyers. As a result, values climbed quickly within hours.
At the start of trading on Tuesday, 3 February 2026, one mithqal of 21-karat gold reached 1,063,000 dinars. That marked a sharp rise from Monday’s 988,000 dinars. However, the surge did not stop there. The price increased again. It reached 1,072,000 dinars.
Hendren Warti, head of the Erbil Goldsmiths Syndicate, confirmed the rise. He said that gold prices rebounded strongly at market opening. He also noted growing demand after recent declines. According to Warti, many buyers returned to the market expecting further increases.
Meanwhile, other gold categories also recorded gains. By 10:38 a.m., one mithqal of 22-karat gold reached 1,123,000 dinars. At the same time, 18-karat gold climbed to 918,000 dinars. In addition, the global gold ounce price approached a historic level. It reached $4,919 during the same period.
Global conditions continue to shape local prices. Political tensions remain high worldwide. Inflation pressures also persist. Moreover, investors closely watch decisions from the U.S. Federal Reserve. Each factor adds pressure to financial markets.
In the Kurdistan Region, local conditions add another layer. The dollar-to-dinar exchange rate plays a key role. Even small currency changes affect gold prices quickly. Therefore, traders closely monitor currency movements alongside global trends.
Recently, many investors turned to gold for safety. Financial uncertainty pushed people toward stable assets. As a result, gold demand increased across regional markets. This trend strengthened prices further.
The sharp gold prices rise highlights gold’s role as a safe haven. It also reflects growing concern about global economic stability. If uncertainty continues, prices may remain volatile in the coming days.
For now, traders expect cautious optimism. Buyers remain active. Sellers remain watchful. And the market continues to react minute by minute.
