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  • Iraq’s gold set to hit record highs in 2025

    Thu Feb 06 2025

     

    Gold prices in Iraq could reach unprecedented levels in 2025, driven by accelerating global economic events and ongoing trade conflicts, economic analyst Mohamed Al-Hasani stated on Thursday.

     

    “The rapid economic developments since former US President Donald Trump assumed office—and his ensuing trade war with several countries—are prompting both investors and nations to turn to gold as a safe haven,” Al-Hasani continued, adding that the global gold price could potentially exceed $3,000 per ounce in the near term if these trade wars persist, although the strength of the US dollar is expected to moderate the rise in gold prices.

     

    “with the parallel market exchange rate remaining stable, the price of a mithqal (approximately 4.25 grams) of 21-carat gold in Iraqi markets could surpass 650,000 IQD during the current year. He explained that local gold prices are determined by jewelers using a calculation based on global market prices and the local dollar exchange rate.”

     

    Since gold prices began surging to historical levels in global markets, Iraq has experienced a corresponding increase, with the price of a mithqal recently exceeding 600,000 IQD.

     

    Source: https://shafaq.com/

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