Gold prices stabilized in Iraq, today, Sunday, October 3, 2021, in parallel with the stability of prices globally in light of the weekends.
The global gold markets are on a weekly holiday yesterday and today.
Gold price in Iraq today
A gram of 24 karat gold in Iraq settled at 82,689 dinars ($56.66).
And the price of a gram of 21 karat gold in Iraq (the most traded in the market) remained at 72,355 thousand dinars.
And the price of a gram of 18 carat gold in Iraq was 62,018 thousand dinars ($42.49).
As for economic gold prices in Iraq, the price of a gram of 14-karat gold scored about 48,236 thousand dinars ($33.05).
And 12-carat gold scored about 41,345 thousand dinars ($ 28.33).
Gold price per ounce and pound
And the price of an ounce of gold in Iraq remained at 2.571 million dinars (1,762 dollars).
And the price of the gold pound in Iraq (8 grams of 21 carat) was about 578,839 thousand dinars (396.60 dollars).
global gold prices
Globally, the price of gold rose yesterday, Friday (the closing of the week’s trading), as the decline of the dollar and concerns about rising inflation and risks to growth offset the impact of bets on raising interest rates that loomed on the horizon, which kept the metal on the path to achieving slight weekly gains.
Spot gold rose 0.1% to $1,758.58 an ounce by 1424 GMT. US gold futures rose 0.1% to $1,759.
The dollar fell, which made gold less expensive for holders of other currencies, which supported demand.
And gold is on its way to recording its first weekly gain since the third of September, up about 0.6% so far, as the dollar’s decline helped it recover about 2% yesterday.
Philip Strebel, senior market analyst at Blue Line Futures in Chicago, said that the dollar’s losses and low bond yields keep gold supportive, in a time when investors adjust their positions at the beginning of the fourth quarter of the year.
Supporting gold’s appetite, European and Asian stocks fell amid concerns about inflation and a possible slowdown in growth.