Jawharat Al-Maaden presents its brief for Thursday, October 8, 2026.
Decision 1, Washington: The Fed’s minutes show most officials expect another rate hike by year end. Higher US rates usually push gold down in dollars, and gold has fallen about 5.7% this month.
Decision 2, Baghdad: Iraq moved the official rate from 1,310 to 1,500 dinars per dollar. A weaker dinar pushes gold up in dinars.
The result for Iraqi buyers: These two forces pull in opposite directions. This week the exchange rate won, and gold is more expensive in dinars despite being cheaper in dollars.
Example prices at today’s market rate (metal only, before making charges):
- 24K mithqal: about 1,133,000 dinars ($678).
- 10g 24K bar: about 2,267,000 dinars ($1,355).
- 21K mithqal: about 1,007,000 dinars ($602).
Our advice: For saving, 24K bars and 21K liras carry the lowest making charges, so more of your money is metal. Buy in steps, especially before the Fed decisions on October 28 and December 9.
The honest caution: Both decisions may move again; Iraq’s parliament may review the exchange rate. Keep metals as part of your savings, not all of it.
Jawharat Al-Maaden — the jewel among metals.
