Gold prices in the Kurdistan Region are rising amid global market instability. Analysts point to U.S. sanctions on Iran as the main reason behind the recent fluctuations. The sanctions have created pressure on the market, pushing both local and international gold prices higher.
Handren Werti, head of the Hawler Gold Miners’ Union, confirmed the increase to local media. “Compared to Wednesday, one ounce of gold rose by $30. One mithqal of gold increased by 20,000 dinars,” he said. Werti emphasized that the sanctions on Iran are driving the price surge, affecting the regional market directly.
The Kurdistan Region’s gold market has been reacting to global developments. Experts say the U.S. sanctions on Iran have limited supply channels, increasing demand for gold in nearby markets. This has led to higher prices for both ounces and mithqals of gold. Traders in the region are carefully monitoring these developments, as ongoing sanctions could trigger further price hikes.
Current Gold Prices in the Kurdistan Region:
- One ounce of gold: $5,016
- One mithqal of 22-karat gold: 1,140,000 dinars
- One mithqal of 21-karat gold: 1,088,000 dinars
- One mithqal of 18-karat gold: 933,000 dinars
The rise in gold prices reflects a combination of international sanctions and local market reactions. Buyers and sellers are adjusting quickly, leading to daily price changes. Experts advise investors to watch global events closely, as these continue to influence gold’s value.
Analysts predict that gold prices in the Kurdistan Region may continue to fluctuate in the short term. With sanctions on Iran showing no immediate signs of easing, the market could experience more volatility. Investors are urged to stay informed and make careful decisions based on global developments.
