Iraq Gold Prices Drop on July 1

Gold prices in Iraq today, Wednesday, July 1, 2026, experienced a moderate decline across all categories, influenced by the global market correction that saw prices retreat after reaching their lowest point in seven months. This retreat was fueled by rising U.S. Treasury bond yields and decreasing prospects for a lasting peace agreement between America and Iran, which heightened concerns about inflation and the persistence of monetary tightening policies. The price of 24-karat gold per gram reached approximately 167,674 Iraqi dinars (around $128), 22-karat at 153,701 dinars (about $117), and 21-karat at 146,714 dinars (roughly $112). Meanwhile, the price of an ounce of gold hit approximately 5,215,217 Iraqi dinars (about $3,980). Gold futures for August delivery declined by 1.1% to $3,992.70 per ounce, marking the lowest level since November, amid fears of ongoing inflationary pressures and escalating tensions in the Middle East.

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