Gold prices in Iraqi domestic markets, according to a field tour by Mada Al-Rafidain News, particularly the popular 21-karat, have surged to new historic highs, nearing the critical threshold of one million Iraqi dinars per mithqal for the first time, significantly impacting the goldsmith market.
This sharp price escalation is a direct response to a robust surge in local demand for safe-haven assets to preserve savings, amid growing concerns among investors and citizens regarding regional economic volatility.
Local markets were also directly influenced by rising global gold valuations, driven by a depreciating US dollar and intensifying geopolitical tensions that push capital toward gold hedging.
